Chinese firm becomes world&#39;s No3 PC firm
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A Chinese company has become the third largest PC seller in the world by buying IBM&#39;s personal computer business. Lenovo has bought the business for USD 1.25 billion, of which USD650m is in cash and the rest in Lenovo shares.
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In a highly anticipated announcement, IBM (Quote, Chart) confirmed late Tuesday it is selling its PC division to China&#39;s Lenovo Group.
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Lenovo Group Ltd. agreed to pay $1.25 billion for International Business Machines Corp.&#39;s personal computer business, lifting China&#39;s largest PC maker to third in world rankings and giving it a globally recognized brand.
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IBM, which revolutionised the global computer industry when it launched its first desktop in 1981, has sold its PC business to a Chinese group in a $1.75bn (Â£900m) deal, it was confirmed today.
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Falling cost of PC parts gives computer maker's third quarter a boost.
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China's largest manufacturer of personal computers Lenovo Group said it has bought IBM's PC business for 1.25 billion dollars, making it the world's number three in the intensely competitive field.
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Intel, the worldâs largest semiconductor and Microprocessor Company, is officially helping China and other Asian countries adopt Linux over Microsoftâs popular Windows platform.
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The PC maker's founder shows commitment to the company he built.
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Since taking the helm at Taiwan's top PC  maker two years ago, J.T. Wang has trumped his opponents by  building Acer Inc  into the world's No.3 computer  maker.
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BEIJING/SAN FRANCISCO  - IBM is selling its  PC-making business to China's largest personal computer  company, Lenovo Group Ltd., for $1.25 billion, marking the U.S.  company's retreat from an industry it helped pioneer in 1981.
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IBM, the company that invented the PC, has put its PC business up for sale, according to the New York Times, and is in discussions with China&#39;s largest maker of personal computers, Lenovo Group (formerly Legend Group), and at least one other potential
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IBM is selling its PC-making business to China's largest personal computer company, Lenovo Group Ltd., for &#36;1.25 billion, marking the U.S. company's retreat from an industry it helped pioneer in 1981.
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BEIJING/SAN FRANCISCO  - China's largest personal  computer maker, Lenovo Group Ltd. 0992.HK, said on Wednesday  it is buying control of IBM's PC-making business for $1.25  billion, capping the U.S. tech giant's gradual withdrawal from  the business it helped pioneer in 1981.
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IBM yesterday sold its personal computer business to China&#39;s leading manufacturer, Lenovo, in a deal that reflects the profound changes taking place in the economic world order and marks the end of an era for one of America&#39;s most iconic companies.
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Lenovo Group&#39;s takeover of IBM&#39;s personal computer business is a giant step in a multibillion-dollar foreign expansion by corporate China, which is buying auto, television and telecommunications companies abroad.
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Lenovo Group Limited and IBM have announced a definitive agreement under which Lenovo will acquire IBMâs Personal Computing division to form the worldâs third largest PC business, bringing IBMâs leading enterprise-class PC technologies to the
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BEIJING: IBM is selling its personal computer making business to China&#39;s largest PC producer, Lenovo Group Ltd, for US$1.25bil, marking the US giant&#39;s retreat from an industry it helped pioneer in 1981.