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Chinese American Businessman John Hui Buys Packard Bell from NEC

California investor Lap Shun Hui is all set to purchase Packard Bell from Japanese manufacturer NEC. This marks the fifth incarnation for the Packard Bell name, which first came to life in the 1930s as a US radio manufacturer. In the 1970s, it operated as a part of the defence manufacturer Teledyne, and in 1986 a group of investors brought the name to low-cost PC manufacturing.

Since 1995, Packard Bell has been producing computers for consumers as NEC Packard Bell, but NEC announced that it would sell the division earlier this year to focus on computers for businesses. Hui made an offer in June, and executives said that the deal was expected to close at the end of September.

Packard Bell quit the United States to concentrate on Europe in 1999. Packard Bell's chief executive, Aymar de Lencquesaing has maintained that the company had no plans to re-enter the American retail market. Last month, the company reintroduced the Packard Bell brand to Asia, where it already does its computer manufacturing. It employs about 750 people in Europe and Asia.

Hui had also offered to buy computer maker Gateway’s retail opertaions for USD 450 million recently. Gateway's directors rejected the bid, but Hui remains a minority shareholder in Gateway. Aymar de Lencquesaing concluded that details of the deal would not be disclosed yet.


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