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Wednesday, December 08, 2004

IBM (PC) bought by Lenovo...China flexes its muscle

IBM (PC) Take Over...China flexes its muscle

Finally! Turns out the rumors from the last couple weeks are indeed true. Lenovo, a Chinese company bought IBM's PC business for $1.25 Billion. When I first heard about the possibility, I was little surprised, given the current consolidation efforts by large companies. But the price tag of just $1.2 Billion for IBM shocked me. Compare that with Cingular's purchase of ATT Wireless for 40 odd billion dollars. Agreed, its the manufacturng vs services; but its still a very small figure for a company of IBM's stature.

But I guess this is China's not-so-subtle indicator to the world of its capabilities. A lot of people will likely sit up and take notice now. Watch out Dell! You may find China's less expensive overheads and costs a big challenge.

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