LG and IBM have created a joint venture to market and sell PCs in the Korean market. The group will be called the LG IBM PC Company, with IBM owning 51 per cent and LG 49 per cent. If the venture is approved by the South Korean government, the company will start trading on 1 November, with a capitalisation of around $30 million and a staff count of 100.
The Korean home market is cut-throat, with Samsung holding the lion?s share. While LG has a presence, the alliance can be seen as a bid to grow its share against its biggest home competitor.
Barry Willmore, managing director of LG UK, said: "Taking advantage of LG?s distribution will increase IBM?s market share."
The company will sell notebooks, servers, desktops and retail PCs tailored to the Korean market.
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