Samsung might sell HDD business to Seagate

by Hilbert Hagedoorn on: 04/19/2011 10:41 AM | source: | 0 comment(s)

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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