BREAKING NEWS: Samsung In Talks To Sell PC Business To Lenovo
Samsung, who earlier this year offloaded their printer business to HP for more than $1 Billion is now looking to exit the PC business globally.
Last year ChannelNews exclusively revealed that Samsung had exited the Australian PC, now we can reveal that the Company is using International law firm Paul Hastings to negotiate a deal with Chinese PC Company Lenovo who in the past has acquired IBM’s PC and server business along with Motorola.
Lenovo is being represented in the discussions by US Lawyers Freshfields Bruckhaus Deringer.
The deal tipped to be between $750 and $850M dollars is expected to be announced shortly. It’s not known whether the Galaxy Tablet will be included in the deal along with the Tab 2S.
A former Samsung executive said “Considering the close business relationship between PCs and printers, it seems obvious that Samsung, after its PC business sell-off, is withdrawing from the PC market.”
The move that will have no impact in the Australian market will bolster Lenovo revenues in Europe, Asia and the USA where Samsung notebooks are still on sale at retail stores such as Best Buy and Dixons in the UK.
At this stage of the discussions nothing has been confirmed and Lenovo who are struggling to deliver profits could walk away from the deal.
