(Yicai Global) Nov. 24 -- Electronics giant Samsung Electronics Co. [KRX:005930] is negotiating with Chinese PC manufacturer Lenovo Group Ltd. [HKG:0992], with a plan to sell its PC business to divest the sector of poor profitability. The deal is likely to exceed KRW1 trillion (USD850 million), South Korean media reported.
Samsung is the world's largest smartphone company in terms of shipments, however, it never managed to gain a foothold in the cutthroat PC market and has withdrawn from both the UK and European markets in recent years. Lenovo is currently the PC manufacturer with the world's largest number of shipments. As Samsung still operates its PC business in the US and other countries, a deal will help Lenovo consolidate its market share globally.