Feeds

Samsung refuses to buy HP's PC business

Wealthy minnow refuses to swallow bloated whale

Secure remote control for conventional and virtual desktops

Samsung made it clear today that it is not interested in buying HP's PC business, despite market rumours to the contrary.

Not usually so chatty about such speculations, Samsung released a statement from its chief executive, Choi Gee-Sung, denying any thoughts of picking up the unit, which Hewlett-Packard said last week it may "spin off".

"To put to rest any speculation on this issue, I would like to definitively state that Samsung Electronics will not acquire Hewlett-Packard's PC Business," Choi said.

"Hewlett-Packard is the global leader in the PC business with sales of 40 million units last year, while Samsung is an emerging player in the category and sold about 10 million units in 2010. Based on the significant disparity in scale with Samsung's own PC business and the complete lack of synergies, it would be both unfeasible and imprudent to even consider such an acquisition."

Speculation about who might buy the unit has been rife since HP announced last week that it was exploring the idea of "separation of its PC business into a separate company through a spin-off or other transaction".

Samsung had been tipped as a possibility by some media reports not just because it might be good for the company, but also because they might actually have the readies for such a bid.

Moody's Investors Service ranked Samsung as Asia's second most cash-rich company in November 2010, with a packed wallet of more than $18bn.

Other Asian firms that are possible HP shoppers, such as Lenovo and Acer, don't have such deep pockets.

Lenovo put its cash reserves at $3.6bn in its Q2 2011 report. The Reg doesn't have a figure for Acer's current reserves but analysts and observers think it is unlikely that the Taiwanese firm has a big wad to blow.

"Only Samsung and Lenovo have the money to buy HP's business, but they have to consider the compatibility of their business models," Vincent Chan, an analyst at Yuanta Securities in Taipei, told Reuters last week. ®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
prev story

Whitepapers

A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.