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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

By Anthony Garreffa from Apr 18, 2011 @ 20:51 CDT

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 SOURCES:Online.wsj.com


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