NEW YORK, April 17 Samsung Electronics Co
(005930.KS) may be looking to sell its hard-disk-drive business
for $1.5 billion, the Wall Street Journal reported on Sunday.
The newspaper, citing a person familiar with the situation,
reported that Samsung would use proceeds from the sale to
invest in new, higher growth areas. While it would likely seek
$1.5 billion, it might consider selling the money-losing
division for $1 billion, according to the report.
One potential buyer for the hard-disk-drive business would
be Seagate Technology (STX.O), the person familiar with the
situation was cited as saying.
Seagate declined to comment on the report.
South Korea's Samsung is the world's top maker of memory
chips and flat screens, but it has struggled in the
hard-disk-drive business. The business is due to become even
more competitive with Western Digital Corp's WDC.N plan to
buy Hitachi Ltd's (6501.T) hard-disk-drive unit for $4.3
billion, a deal that would create global leader with deep
Samsung could not immediately be reached for comment.
(Reporting by Paul Thomasch, editing by Bernard Orr)