By: Nirupam Manik, The Mobile Indian, New Delhi
Last updated : Friday, November 25, 2016 - 15:10
Previously, Samsung sold off its Printer business to HP Inc. for $1.05 billion.
If latest rumours are to be believed, Samsung is secretly in talks with Lenovo to sell off its PC business. Previously, the South Korean giant got rid of its Printer business to HP for a whopping $1.05 billion but now the company is also expected to let go the PC business as well.
Samsung, though tried hard, never gained that level of reputation and reliability in the minds of the consumers when we talk about PCs. Contrary to this, Lenovo is the largest PC manufacturer in the world which further makes this deal an obvious move by Samsung.
The possible talks about this deal were first spotted by The Bell (South Korea's local media publication). Further, The Bell tips that the deal between the two might be priced at $850 million. However, the talks seem to have been going on for a long time now and either of the two firms is procrastinating the final draft leading to slow progress for the deal to complete.
"Considering the close business relationship between PCs and printers, it seems quite obvious that Samsung, after its PC business sell-off, is withdrawing from the PC market," a former Samsung executive said to NDTV Gadgets.
There is no confirmation or leaks as to when is the deal expected to be completed. Where on one hand, Samsung hired Paul Hastings as its legal advisor, Lenovo went for Freshfields Bruckhaus Deringer to represent the firm.
To recall, Samsung already stopped selling its PCs in the UK after it exited the European market back in 2014. Rumours back then pointed out the extreme competition in the PC market which led to this decision by the South Koran giant. Samsung is still there in US market and even here in India but history seems to be repeating itself as Samsung is still struggling to find its name in the Notebook market. The Lenovo deal will surely help the company acquire more market share.