Samsung is apparently trying to sell off its loss-making hard disk drive (HDD) business. According to WSJ’s source, the Korean giant is trying to sell the unit in order to tap newer “growth areas.”
One of the reasons for the loss is due to the rise of flash memory storage, which are used in mobile products like tablets, mobile phones etc.
Samsung is trying to offload the business unit for about $1.5 billion but is also considering to sell under $1 billion. Seagate is claimed to be a potential buyer.