Is Samsung about to sell its PC business?
It was only a couple months ago that Samsung sold its printer business to HP for more than $1 Billion - and soon its PC business could be gone too.
The tech giant is reportedly in talks with the world’s largest PC supplier, Lenovo, to offload its global PC business.
International law firm Paul Hastings is reported as representing Samsung in the talks, which have supposedly been going on for months, while Lenovo is using Freshfields Bruckhaus Deringer.
Earlier this month an official statement revealed that Lenovo is in serious talks with Fujistu to buy its PC business, and is open to other PC deals - so these reports come as no surprise.
“Lenovo, already the world’s largest PC supplier, is continuously seeking opportunities to further grow its core business in the global market,” the statement read.
“Fujitsu will continue to offer a high-quality, innovative and reliable Fujitsu branded PC portfolio and the related after-sales support to customers and channel partners worldwide.”
HP and Samsung started working with each other a whole year before HP decided to acquire the tech giant’s PC business. However, it did eventually turn into an acquisition, valued at $1.05 billion US dollars.
And, while there haven’t been any official declarations from either parties, reports of lawyer involvement point to a possible deal in the near future.
This comes after IDC posted its Worldwide Quarterly PC Tracker, revealing that the market had experienced a year-on-year decline of 3.9% in the third quarter of 2016, with shipments totaling 68 million units.
Despite the decline, the analyst firm says the results were better than expected, about 3.2% ahead of projections - but Samsung didn’t even make the top five.
Lenovo held onto the top spot, HP posted a solid quarter with 3.3% growth globally, Dell came in at third, Apple in fourth position and ASUS made the cut for fifth.