Samsung Said to be Selling Hard Drive Division

Today The Wall Street Journal have had inside information that Samsung Electronics Co. is considering selling its money-losing hard-disk-drive business to raise cash to invest in new growth areas.

Samsung is looking to sell the unit for $1.5 billion, but it may consider a deal under $1 billion, with a potential buyer for the business being hard-disk maker Seagate Technology Inc.

If Samsung do depart the hard drive business this will just leave major players Seagate and Western Digital.

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