IBM Sells PC Unit to China’s Lenovo

It’s nothing directly to do with steel or metal stamping, but who doesn’t use an (IBM) PC Clone these days?

Yahoo! NewsLenovo has acquired IBM’s personal services business for $1.25 billion

China Computer Maker Acquires IBM PC Biz

Under the terms of the deal, which ends IBM’s long transition from PC pioneer to peripheral player, IBM will keep an 18.5 percent stake in the company, said Lenovo’s chairman, Liu Chuanzhi.

Lenovo is taking over IBM’s desktop PC business, including research and development and manufacturing, Liu told reporters in Beijing.

The acquisition would make Lenovo the third-largest PC company in the world, he said.

While still very well-regarded in terms of quality, IBM’s PC business ranks a distant third in terms of units sold, having surrendered the market lead by the late 1990’s

Globally, [in 2004] IBM [had] a 5 percent market share [compared to] 16.4 percent for Dell Inc. and 13.9 percent for Hewlett-Packard Inc., which makes both the HP and Compaq brands.

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