Dell says major acquisition unlikely

Chief Executive Officer of Dell Inc., Michael Dell, has said the company does not expect to make a major acquisition anytime soon.

In an interview with a French newspaper, he said: "It remains unlikely that we'll conclude a major acquisition in the near future. It is not our culture to merge with companies."

The company has a target to double sales to around US$60bn (€52.6bn) by 2006.

Dell said he expects the consolidation process in high-technology to accelerate, and noted that only a few companies are making money in the sector.

He said company strategy is to establish direct contact with customers, noting that an acquisition of a company like Sony Corp would make little sense.