Investor Dumps Dell After Record PC Downturn

Written by David Richards     22/04/2013 | 10:08 | Category: INDUSTRY

The future for Dell remains uncertain as PC buyers move to new technology and consumer electronics brands.

Investor Dumps Dell After Record PC Downturn

Over the weekend venture capital company Blackstone said that they were no longer interested in buying into the struggling company after spending the last few weeks inspecting Dell's books.

Blackstone was expected to make a $24.4m bid for the Company but shortly after quarterly PC sales numbers came out that showed a 14 percent market decline in PC volume in the first quarter of 2013, its steepest drop in history the company announced that the deal was off.

Carl Icahn remains the only rival to Silver Lake and Michael Dell's plan to privatise the company.

In a letter sent to Dell's board, Blackstone cited "an unprecedented 14 percent market decline in PC volume in the first quarter of 2013, its steepest drop in history, and inconsistent with management's projections for modest industry growth."

Breaking News

  • Mac OS X Yosemite Beta For True iGeeks Only

    Mac OS X Yosemite Beta For True iGeeks Only
    Apple's newest OS X, Yosemite, is available in a free public beta for the first time ever from today for the first million registrants keen to test Apple's latest and greatest.

  • BenQ Launches Trio of Pro Gaming Monitors

    BenQ Launches Trio of Pro Gaming Monitors
    BenQ's new XL-Z Series monitors are purpose-built for ultra-smooth gaming experiences with special features to protect eyes from the detrimental effects of prolonged exposure to LED screens.