News that Samsung Electronics plans to sell hard drive business of 1.5 billion dollars

According to Marketwatch reported that sources said on Sunday, Samsung Electronics is considering a price of 1.5 billion sale of its loss of the hard drive business to raise capital to invest in new growth areas.
The source said that Samsung may also be less than 10 billion dollars to sell hard drive business, because the company is eager to "get rid" of the business. In his view, the most likely buyers may be the U.S. computer hard disk manufacturer Seagate Technology.
In this regard, Seagate Asia Sunday night phone call no one answered.
Earlier this month, Samsung Electronics has released the expected weak first quarter. Samsung Group is composed of 60 companies by the Korea’s largest business group, Samsung Electronics is the largest of a subsidiary. To seek new growth engines for the last year, in May 2020, Samsung said it would invest about 20 billion U.S. dollars to develop new business, including investment in the bio-pharmaceutical sector 18 billion U.S. dollars.
Samsung said in February, with U.S. pharmaceutical services company Quintiles, a joint venture healthcare company to achieve business diversification, get rid of dependence on consumer electronics. The company sold the business will help drive new business areas for investment financing.
Apple iPad and the success of other tablet PCs, hard drives (HDD) industry has been under pressure, because these products use flash memory chips rather than disks. These new products are also thought to affect a large hard drive user – consumer notebook sales growth.
Samsung, the fourth quarter of 2010 market share in the global hard disk is 11%, but the business has been losing money, prompting the sale of its considerations. The source said: "Samsung Electronics is considering selling its disk drive business, because the business does not make sense strategically; (Samsung) is not a follower of the business is not a leader, and the business is still a loss."
The source said: "15 billion dollars in the price seems reasonable," but "anxious to get rid of this business as Samsung, less than 10 billion dollars to the sale price is possible." This year in March, Western Digital with 43 million in cash and stock acquisition of Hitachi’s disk drive business, as nearly 50% of the market share leader.
iSuppli’s data, Seagate 2010 hard drive shipments in the fourth quarter, 29% of the world. Samsung Electronics is the world’s largest memory chip and LCD TV manufacturers, but the decline in profits in recent quarters.