Friday, November 25, 2016

Samsung and Lenovo in talks to sell/buy PC Samsung business.

Samsung seems to be very decided on exiting the PC market, especially because the company has been struggling on it for many years and is in  talks with Chinese world`s PC sales leader Lenovo.

South Korean media outlet Bell reports that if talks are successful between the two companies the deal price could be close to 1tn won ($850m, £680m) even though Samsung has rarely revealed the breakdown revenue of its PC business. While Samsung has Paul Hastings as its legal advisor for the deal Lenovo is being represented by Freshfields Bruckhaus Deringer.

Samsung has already stopped selling its PCs in the UK and made an abrupt exit from the European market as well in 2014 owing to competition from other PC giants like HP and Lenovo. It however, still operates in markets like US and other parts of the world and a deal will help Lenovo increase its market share even further in the PC industry.

The latest attempt is in line with the Korean tech giant's efforts to get rid off business that are not bringing enough profits to the table. It recently sold its printer business to HP Inc, the world's largest printer maker for $1.05bn.

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