More proof that the Chinese are taking over.
 

http://money.cnn.com/2004/12/07/news...ex.htm?cnn=yes

BEIJING (Reuters) - China's largest personal computer maker, Lenovo Group Ltd., said Wednesday it is buying control of IBM's PC-making business for $1.25 billion, capping the U.S. tech giant's gradual withdrawal from the business it helped pioneer in 1981.


The agreement, which forms the world's third largest PC business, calls for Lenovo to pay IBM $650 million in cash, $600 million in Lenovo Group common stock and for Lenovo to assume $500 million in net balance sheet liabilities from IBM.


IBM (Research) will hold an 18.9 percent stake in Lenovo.








Based on 2003 results, the companies will have annual revenue of $12 billion on sales of 11.9 million units, according to a news release.


The deal closes an era for the world's largest computer company and kicks off a new age in which China's top PC maker Lenovo steps onto the world stage as a major PC brand and IBM partner.


The sale of IBM's PC desktop and notebook computer lines frees the company to focus on higher-margin businesses such as computer services, software, more powerful server computers, and storage as well as computer chips, analysts have said.


For Lenovo, which is battling intense competition in its home market, the deal with the world's largest computer company marks a breakthrough in its efforts to build its business overseas. It would also make the company part of a small but growing group of Chinese manufacturers buying overseas brands.


Lenovo will take ownership of IBM "Think" trademark family, including its ThinkPad notebook brand and its ThinkCenter desktop line. Lenovo will also buy out IBM's interest in its joint venture with Lenovo rival Great Wall Technology, China's No. 2 PC maker.




Lenovo will hire 10,000 IBM PC employees -- including about 2,300 in the United States -- mostly product designers, marketers and sales specialists -- and some 7,700 elsewhere, principally in China, where IBM operates a manufacturing joint venture.


In a news release, IBM and Lenovo said the new company will be based in New York, with principal operations in Beijing and Raleigh, N.C.

This China reminds me of Japan of the 80's. It's no longer a country to underestimate.

WOW !

:conehead

Slight difference...

http://news.bbc.co.uk/1/hi/world/asi...ic/1759815.stm


"Two Chinese dissidents have been jailed for four years for posting articles on the internet criticising President Jiang Zemin, according to a Hong Kong-based human rights group. "

but american have very big penis

http://www.pbs.org/wgbh/pages/frontline/shows/walmart/

Letting them have IBM is nothing, check out what Walmart's doing with China.

Kill Charley

IBM's been talking about getting out of the personal PC business since the mid '90s. They finally decided to actually do it and their buyer is chinese.

Weird too, since all of the hype about their Cell processor technology.

Maybe it is just marketing hype, and they are trying to sell high.

In 40 years China will own you.

Invest in the Yuan!

damnn

Its deals like this that are indicative of China's progress toward becoming the no 1 economic superpower in the world.

Their large pool of labour and high demand helps too.

me chinese me play joke me peepee in your coke

"Secret Service Agents question a Bellbrook High School student for wearing a controversial t-shirt."

How is being questioned the same thing as having many many political dissidents in jail?

Its not.

Sorry to burst your bubble but alex jones is a fruitcake. :2 cents:

The Chinese entry into the WTO helps or hinders Human Rights?

--Interesting. Some argue that a healthier, more promising and stable economy cause nations to stray away from human rights violations; the chinese are a proven dilemna in this arena.

--Some believe that this will increase problems, further subjugating the peoples.

The above two points could prove to be the decline of the WTO or the United States.

It is the fuel.

Very true man. China is a potential world power.

I am studying Chinese at the moment and watch CCTV the Chinese cable channel. It was all over the news just now re IBM.

Get with the program, I read a marketing research article that said that 80% of web content will be in Mandarin within 5 years because of supply and demand.. 80% of surfers will be Chinese speaking/reading since the Chinese Net population is doubling every few months.

:glugglug

But the US covered it pretty modestly.

Interesting.

When I saw the article, it was the first one I clicked on.

smart man.. but try a shorter timeline

say 10-15 years.

i personally see online shopping working in china (slowly with the payment).. just gotta get the banks inline.

opportunities are right there.

At least, in China, you know that you'll go to jail if you pull that kind of stunt.

To be questionned over wearing a T-Shirt in America, a country that claims to be democratic is not exactly something to be proud about.

I could go on about Guantanamo Bay but I won't.

Keep in mind, the topic of this thread is A Chinese company buying a large American one, which reflects that China is becoming an economical superpower. That my friend we have to reckon whether we agree with their policies or not.

I wonder how many Starbucks there are in Beijing?

Hong Kong was loaded with them.

yep, communism is bad for you

I remember reading somewhere that the world's largest Starbucks is in South Korea. It's 5 floors.

http://www.tamegoeswild.com/photos/k.../starbucks.jpg

"Starbucks sees Korea as a country with tremendous prospects for continuing growth and expansion," said Peter Maslen, president of Starbucks Coffee International. "Korea is a fast-developing country with a very young economy, looking to Western trends. Starbucks hits the sweet spot," said Maslen.

Maslen said each Starbucks store in Korea does about twice the amount of business of its counterparts in the United States. The Seattle-based coffee company plans to open about 130 Starbucks stores in Korea within the next six years.

"The overwhelming acceptance of the Starbucks brand by our Korean customers has been both surprising and gratifying,? said Pedro Man, president of Starbucks Asia Pacific, in a Starbucks company statement.

In addition to its stores in Korea, Starbucks has 500 outlets in 20 countries including Japan, Singapore, the Philippines, Taiwan, Thailand, the United Kingdom, New Zealand, Malaysia, China, Kuwait, Lebanon, Hong Kong, Shanghai, Australia, Bahrain and Saudi Arabia.

They are slowly waging a war and buying up a lot of us companies and land just watch in 5 or 10 years the percentage they have it will be scary...:2 cents: