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December 08, 2004
IBM inks $1.75 billion deal with China's Lenovo
The deal that everyone will be talking about: as rumored last Friday, IBM has agreed to sell its PC unit for $1.75 billion to China's Lenovo, making the Chinese PC manufacturer the #3 player in the global PC market. From IBM's perspective, the deal makes economic sense: "If it goes through, the deal would allow IBM to continue its shift from selling so-called commodity products toward selling services, software and high-end computers. Although it helped make PCs a global phenomenon, IBM makes little profit from PCs and often loses money, despite the fact that it's an $11 billion business for the company."
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