Samsung is reportedly in talks with Lenovo to sell its PC business soon.
Negotiations have been going around for months now but nothing has been confirmed yet. The deal is expected to set for more than $1 billion, if made. A former business official of Samsung commented on the news,
“Considering the close business relationship between PCs and printers, it seems quite obvious that Samsung, after its PC business sell-off, is withdrawing from the PC market.”
Following the Note 7 explosion events, Samsung has been restructuring its business lately. It’s been divesting itself of some businesses which it deems unprofitable and focusing on growth by acquiring others like Harman. Samsung never really made much progress with PCs as it did with the smartphones. Lenovo, a Chinese multinational technology company, on the other hand, has been successful in the computer business.
Samsung also confirmed the deal of merging printing business with HP for $1.05 billion in September 2016. The deal will be carried out within twelve months of the announcement. According to the Korean giant, printers are becoming useless and world is now more about computers and big screens.
Computers and printers industry has been in decline for past two years. So, it will come as no surprise if Samsung does some offloading and carries out the deal while struggling with its business.
Nothing has been made official so far. So, keep an eye out for a possible merger or acquisition.
Sources: theInvestor, theBell
