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Samsung looking to dump their Hard Drive Unit for USD$1.5 billion

Samsung to sell their Hard Drive Unit for $1.5 billion

| Storage News | Posted: Apr 19, 2011 1:51 am

Samsung is looking to sell its money-losing hard disk drive business to raise cash to invest in new growth areas - yes, Samsung are looking to close up their HDD business and sell up shop. Samsung is looking to sell the unit for $1.5 billion and may consider deals under $1 billion.

 

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A potential buyer of the business? Seagate. There's not much else known about this yet - but I'm sure we'll find out soon enough.

 

NEWS SOURCE
Online.wsj.com

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