Samsung Sells off Hard Drive Division to Seagate

Believing that the future of storage is SSD (Solid State Device) Samsung the Korean electronics giant sold off it’s Hard Drive Disk manufacturing division to Seagate Technology last month for a cool $1.375 billion in cash and stocks.  As a result of the sale, Samsung will own approximately 9.6% of Seagate and get one seat on Seagates board of directors.  Samsung will provide Seagate with SSD and Flash memory while Seagate in return will provide Samsung PC’s and consumer products with hard drives.

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