Lenovo Group, China's leading PC brand, added to speculation that it was about to buy up IBM's PC business releasing a statement saying negotiations with another manufacturer were at "an advanced stage". The other party was not named in the statement released Tuesday to the Hong Kong stock exchange. Hong Kong-listed Lenovo is reportedly looking to buy the PC-side of IBM for about US$2bn. Trading in Lenovo shares has been suspended since Monday pending an announcement. Although IBM introduced the PC and emerged as an early leader in the business in the 1980s, PC sales now account for only a small proportion of its revenue and profits.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved