December 8, 2004: IBM sells PC Division to Lenovo

Lenovo
Lenovo

2004 – It was an interesting day in the Tech community when we heard the news. IBM was getting out of the desktop and laptop markets and focus on server and infrastructure. They started by selling all their assets to Lenovo – China’s largest computer manufacturer. Lenovo wasn’t a household name in the US, but this pretty much changed that overnight.The deal was for $650 million in cash and $600 million in stock. Lenovo would also acquire $500 million in IBM liabilities, which would put the total to $1.75 billion. In return, Lenovo would instantly become the 3rd largest PC vendor with $12 billion in revenue, not to mention major markets in both China and the U.S.

Subcribe to Day In Tech History:

RSS Feed - iTunes - Google Play - Spotify
Twitter - Facebook

RSS Bandwidth by Cachefly Get a 14 Day Trial

Be a Part of the Sconnie Geek Nation!

Click Here to Support the Sconnie Geek Nation!

In Wisconsin, friends are called "Sconnies". Even if you're not from Wisconsin, you can be part of the Sconnie Geek Nation through my coverage! By pledging, you join the Geek Sconnie Nation! Plus, you help me cover costs so I can continue the coverage of Gadget tech, music tech, and geek culture through the shows.

  • RCA demonstrates Split Screen technology for the first time.
  • Patent for Coaxial cable
  • Atari sues Coleco, Coleco sues back.
Play