Rumor: Samsung considering selling HDD business

By on April 18, 2011
submit to reddit

Samsung may be looking to sell its hard drive business after facing repeated losses.

Tags: ,

According to a report from Foxbusiness, Samsung Electronics are considering selling off its hard drive division to help raise funds for projects in new areas.

A person close to the matter said that the company are aiming for $1.5 billion sell-out, though will consider offers far below that as well.

“Samsung is considering selling its HDD (hard disk drive) business as it is not strategic to succeed; (Samsung) is neither a follower or a leader in the business and it’s making a loss,” he said. ”$1.5 billion seems a reasonable price to sell. But it could even be sold for under $1 billion as Samsung is trying to get rid of it.”

Samsung had said in May last year that it would invest about $20 billion in new businesses by 2020, including plopping $1.8 billion in bio-pharmaceuticals. In February, Samsung announced partnership with bio-pharmaceutical services company Quintiles Transnational Corp. to setup a health-care in an effort to diversify itself away from consumer electronics.

Samsung holds 11% share of the global HDD business as of Q4 2010, and has been losing money from the business for quite some time.


Mufaddal Fakhruddin is the Editor for IGN ME and thinks writing in third person about himself in an about me section is weird.

Most Read
Most Commented
Win two Toshiba AT200 tablets

This festive season Toshiba has 2 tablets to giveaway.

Win an MSI FM2-A85XA-G65 Motherboard

Thanks to MSI we have an great AMD FM2 motherboard to giveaway.

Win a Nokia Asha 311

Thanks to Nokia we have a great entry-level smartphone to giveaway.