IBM, the pioneer of the personal computer business, has sold its PC hardware division to China’s number one computer maker Lenovo.
After days of rumours, the announcement heralds a $1.75bn (£900m) deal which will make the combined operation the third biggest PC vendor in the world.
Lenovo, formerly known as Legend, has been pushing hard to spread its brand on the international stage. But the company’s position is that it will not be satisfied with its number three position globally.
Tuesday’s announcement means IBM is backing out of direct involvement in a business that it turned into a mass market.
Submitted by: CyrixInstead
Source: BBC
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