Circuits Assembly Online Magazine - Haier to Take Stake in Founder's PC Group

QINGDAO, CHINA -- Home appliance manufacturer Haier Group, one of China's largest OEMs, will purchase PC maker Founder Group, a deal that will make Haier the second-largest seller of PCs in China.

Founder reported sales of 7.39 billion yuan (roughly $92 million) in 2005. Haier had sales of 103.4 billion ($12.9 billion) yuan.

According to the People's Online Daily, Haier will spend an roughly 400 million yuan (about $50 million) for a 10% share in Founder Technology, thus becoming its biggest stakeholder.

The Lenovo Group, which includes the former PC arm of IBM, is China's top PC maker, with a 29.6% share. Founder, is second at 9.1%, followed by Dell (7.4%), HP (6.9%), and Tsinghua Tongfan (6%).

The move is expected to shake up the IT world in Southeast Asia. Lenovo spends a reported $5 billion a year on Taiwanese IT products. The Haier-Founder deal is expected to meet that mark.