Samsung is reportedly in talks with Lenovo for a possible sale of its PC business. A new report from South Korean publication The Bell, the company has been negotiating with Lenovo for a couple of months regarding the sale.
According to the report, Samsung is in talks with Lenovo without a financial advisor — but the South Korean giant has hired Paul Hastings as a legal advisor. Lenovo, on the other hand, is being represented by Freshfields Bruckhaus Deringer. Details regarding the actual sale is scarce at the moment — however, The Bell states that the sale could cost Lenovo more than 1 trillion South Korean Won which is around $850 million. A former Samsung executive stated:
“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,”
Along with the reported sale of its PC business, Samsung is also selling its printer business to Hewlett-Packard for over $1 billion. It is unclear if the sale of its PC and Printer business is related to the company’s recent disaster caused by the Galaxy Note 7. The Galaxy Note 7 possibly cost Samsung billions of dollars — but more importantly, the company’s brand also got a lot of heat. Additionally, it’s also unclear if Samsung’s PC business is struggling or not. Lenovo, on the other hand, continues to do well with its PC business — led by the Yoga devices.
What’s interesting is that Samsung recently acquired a couple of companies, including US audio company Harman for $8 billion.