IBM sold its personal computer division, including the ThinkPad laptop brand it had built since 1992, to China's Lenovo Group for 1.75 billion dollars in a deal completed in May 2005. The sale let IBM exit a low-margin hardware business to focus on higher-margin services, software and consulting, while it propelled Lenovo to become one of the world's largest PC makers almost overnight.
Facts
Event TypeDivestiture (business unit sale) 1 Cross-Tradition Connections
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