Big Blue sells its PC division to China
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IBM has quit the personal computer market 23 years after legitimising the PC revolution that changed everything - from the way we work to the fortunes of Microsoft&#39;s Bill Gates.
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IBM is expected to announce Tuesday after the close of the market an historic pact to sell its $11.5 billion PC business to China PC giant Lenovo, sources said.
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IBM sold off a chunk of its stake in Lenovo Group, leading the world's third-largest PC vendor to temporarily suspend trading of its shares in Hong Kong on Tuesday.
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The deal makes the Chinese company the world&#39;s third biggest PC maker and pushes IBM to the sidelines of a field it once ruled.
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China's biggest computer maker, Lenovo Group, said today it has acquired a majority stake in International Business Machines Corp.'s personal computer business for $1.25 billion, one of the biggest Chinese overseas acquisitions ever.
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International Business Machines Corp. is selling a majority stake in its pioneering personal computer business to China's biggest computer maker, Lenovo Group Ltd., for &#36;1.75 billion in cash and stock.
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IBM (IBM) said Tuesday that it would sell its PC business to Lenovo, China&#39;s No. 1 PC maker, in a $1.75 billion deal that marks the end of an era.
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BEIJING, Dec. 17 -- Chinese display giant BOE Technology may become the biggest beneficiary in an international deal, after Chinese computer company Lenovo Group acquired IBM&#39;s personal computer unit less than 10 days ago.
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HONG KONG/SAN FRANCISCO  - IBM is selling its  PC-making business to China's largest personal computer  company, Lenovo Group Ltd., for $1.25 billion, marking the U.S.  firm's retreat from an industry it helped pioneer in 1981.
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IBM's sale of its PC unit to a Chinese firm is the latest sign that a new giant is rising.
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Lenovo Computers, Chinaâs largest computer maker, said it is in acquisition talks with a major technology company - at the same time that IBM says it is in talks with a major Chinese player to sell its PC making business.
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IBM is discussing selling its PC business to Lenovo Group Ltd., China's largest maker of personal computers, and at least one other potential buyer, according to The New York Times.
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The computer giant hands off its personal-computer business business to a Chinese firm
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IBM has gained a crucial foothold in China by selling its PC business to Lenovo, the countryâs biggest computer maker, for $1.75 billion (Â£900 million) in cash, shares and debt.
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Hong Kong, December 7: China&#39;s largest personal computer maker, Lenovo Group Ltd, could announce as early as Tuesday that it is buying control of IBM&#39;s PC-making business for up to US$2 billion, a source familiar with the situation said.
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Squeezed at home, China&#39;s biggest computer maker, Lenovo, is buying IBM&#39;s money-losing PC business. But venturing abroad is fraught with risk.
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This week, IBM said it is selling off most of its PC division to Lenovo, China&#39;s No. 1 PC maker. The news is likely to rattle IBM customers - but it may end up benefiting them long term.