IBM sacks staff on strike against severance following Lenovo deal

IBM workers protest at an IBM factory in Shenzhen. Photo: Reuters

Nineteen workers at an IBM factory in Shenzhen have been fired after their week-long strike against severance payments, the Southern Metropolis Daily reported yesterday.

Wednesday, 12 March, 2014, 5:21pm

Lenovo's IBM deal will help EMC expand its market, storage systems giant says

EMC expects Lenovo's stronger presence in the server market to help in the cross-selling of storage systems. Photo: Reuters

EMC, the world's largest maker of storage systems, says its international expansion plan will receive a shot in the arm when Lenovo completes its acquisition of International Business Machines' low-end server business.

5 Mar 2014 - 4:59am

Sochi Games brings back memories, but let's move on

The Beijing Olympics made China more famous.

My first trip to the United States in early 2008 - with the Beijing Olympic Games just months away - gave me a street-level glimpse of China's rising profile on Wall Street as well as among ordinary Americans.

10 Feb 2014 - 1:54pm

Lenovo's IBM ties may pave way for enterprise storage acquisition

Having bought IBM's low-end server division, Lenovo may now have its sights on the US tech giant's enterprise storage systems business. Photo: Reuters

Under a US$2.3 billion agreement to buy IBM's x86 server business, Lenovo appears to be paving the way for a future acquisition involving enterprise storage systems. As part of the x86 server deal, Lenovo will manufacture and resell IBM's entry-level and midrange enterprise storage products.

7 Feb 2014 - 4:47am

Lenovo's IBM server deal faces near-term challenges

Lenovo's IBM server deal faces near-term challenges

After basking in the glow of its US$2.3 billion deal to buy the commodity server business of International Business Machines, it's time for Lenovo to face up to some of the uncertainties the major acquisition brings.

25 Jan 2014 - 7:03am

Lenovo to pay US$2.3 billion for IBM's low-end server business

Lenovo says IBM's servers will help fuel profit growth. Photo: Reuters

Lenovo, the world's largest supplier of personal computers, has agreed to buy the commodity server business of International Business Machines for US$2.3 billion in cash and shares, marking the biggest-ever acquisition by a Chinese technology company.

24 Jan 2014 - 1:05am

Lenovo halts trading as speculation on IBM server deal heats up

People walk past a Lenovo shop in Hefei, Anhui province in this October 18, 2013 file photo. Photo: Reuters

Trading in the shares of Lenovo, the world’s largest supplier of personal computers, was halted Thursday morning as speculation swirled about the company’s possible acquisition of International Business Machines’ low-end server business.

That notice to the Hong Kong stock exchange was posted less than 15 minutes before the market opened Thursday.

23 Jan 2014 - 10:22am

Lenovo poised to make its biggest acquisition with IBM server deal

Lenovo could pay US$3 billion for IBM's low-end server business, making it the mainland firm's largest-ever acquisition. Photo: Reuters

Lenovo, the world's largest supplier of personal computers, could end up paying as much as US$3 billion to buy the low-end server business of International Business Machines, months after talks between the two companies reached an impasse over price.

22 Jan 2014 - 3:01pm

IBM faces lawsuit over NSA scandal

IBM has been sued. Photo: Reuters

IBM has been sued by a shareholder who accuses the computer giant of concealing how its ties to the NSA spying scandal reduced business in China and ultimately caused its market value to plunge more than US$12 billion.

14 Dec 2013 - 2:49am

IBM third-quarter revenue down on China woes

IBM, the world's largest technology services company, reported third-quarter earnings that beat Wall Street estimates but it missed revenue expectations. Photo: Reuters

IBM reported a 4 per cent drop in third-quarter revenue, worse than expected by Wall Street, amid a decline in hardware and emerging markets even as it beat earnings estimates.

IBM shares fell 6 per cent in after-hours trade to US$175.56 on Wednesday.

17 Oct 2013 - 10:54am

IBM lifts target after buoyant quarter

Job cuts, share buy-backs and a shift from low-margin businesses helped IBM post better-than-expected profit results. Photo: Reuters

Excluding a US$1 billion restructuring expense, IBM on Wednesday said profit was US$3.91 a share in the past quarter, beating analysts' predictions of US$3.78. IBM now expects to earn at least US$16.90 a share this year, up from the US$16.70 it forecast earlier.

19 Jul 2013 - 5:29am

Investors buy into software-defined networks; will customers follow?

Superstorm Sandy left a trail of destruction in its wake, and highlighted the need for companies to be able to move quickly. Photo: Reuters

As Superstorm Sandy bore down on the US East coast last year, companies with data centres in its path needed another location fast. But moving computer servers is tricky, and usually planned over days or weeks.

Enter a new technology: software-defined networking, or SDN. Such urgent data moves could now be done within a few hours.

4 Jul 2013 - 10:52am

Potential IBM deal to lift Lenovo into x86 server top ranks

Yang Yuanqing, chairman and chief executive officer of Lenovo, speaks at a news conference in Hong Kong last month. Photo: May Tse

A potential deal by Lenovo to buy part of International Business Machines' server business could propel the Chinese technology giant into a global player in that segment of the computer industry, analysts say.

That acquisition is also forecast to trigger a lengthy investigation by the United States government.

8 Jun 2013 - 4:07am

Beijing sets up advisory body with multinationals

Premier Li Keqiang

Beijing has for the first time established an advisory council of multinational heavyweights to help the leadership keep a finger on the pulse of major corporations in vital industries.

Premier Li Keqiang on Wednesday held the first meeting with members of the new "Global CEO Advisory Council" - consisting of 14 business leaders who include the heads of Time Warner, IBM and Dell.

7 Jun 2013 - 3:42am 1 comment

Lenovo raises funds, IBM servers in sight?

According to its latest announcement, Lenovo will issue an unspecified amount of bonds denominated in US dollars. Photo: SCMP

Lenovo's upcoming debt offer is likely to raise US$1 to $2 billion, and will be used to help finance its desired purchase of IBM's low-end server business

3 Jun 2013 - 10:57am