Samsung Seeks to Unload Hard-Disk-Drive Business

Monday Apr 18th 2011 by Staff

Unnamed sources say the company wants $1.5 billion for its hard drive business, but it may take $1 billion.

Wall Street Journal: An unnamed source says that Samsung Electronics would like to sell its hard-disk drive (HDD) business for about $1.5 billion, but the company might entertain offers as low as $1 billion. Samsung currently has about an 11 percent share of the HDD market, and the business unit has been losing money. Seagate Technology Inc. has been mentioned as a possible buyer.

The HDD industry as a whole has been under pressure recently as mobile consumer devices like the iPad that use solid-state drives (SSDs) instead of HDDs are becoming more popular.

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