18 Apr '11, 5am

Report: Samsung bids to sell hard-disc-drive business

Report: Samsung bids to sell hard-disc-drive business

SEOUL: South Korea's Samsung Electronics is considering selling its loss-making hard-disc-drive business to raise cash for investment in new growth areas, a report said Monday. Samsung is looking for a price of US$1.5 billion but may consider a deal under US$1 billion, the Wall Street Journal said. A potential buyer is US-based hard-disc maker Seagate Technology, which accounted for 29 per cent of such shipments in the fourth quarter of last year, it said. Samsung, which held about a 10.7 per cent share of the global hard-disc-drive market in the fourth quarter, declined to comment on the report. It said only that it has been reviewing its "business opportunities". Samsung, the world's largest maker of memory chips and flat-screen televisions, achieved a record second-quarter operating profit of 5.01 trillion won (US$4.6 billion) last year but its earnings have been fallin...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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