IBM's Chinese Adventure

IBM has sold it's US$12 billion-a-year PC business to Lenovo of China for US$1.75 billion. IBM will maintain a minority stake in Lenovo. But there's more to it than that. Lenovo will relocate it's world headquarters to NY and will be run by two IBM executives, Stephen Ward and Fran O'Sullivan. Lenovo's chairman will be Yang Yuanqing, from China. As Steve Hamm of BusinessWeek puts it, "An icon of Western capitalism is marrying a company that's partly owned by the Chinese government. Weird."

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