Samsung to sell HDD business to Seagate?

Posted on Monday, April 18 2011 @ 21:59 CEST by Thomas De Maesschalck

WSJ reports Samsung is considering to sell its loss-making HDD business and notes Seagate may be a potential buyer.

Samsung Electronics Co. is considering selling its money-losing hard-disk-drive business to raise cash to invest in new growth areas, according to a person familiar with the matter.

Samsung is looking to sell the unit for $1.5 billion, but it may consider a deal under $1 billion, the person said.

A potential buyer for the business is hard-disk maker Seagate Technology Inc., the person said.

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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