General Electric Said to be Considering Sale of Appliance Business

General Electric is reportedly in talks with Sweden's Electrolux and consumer product development company Quirky about selling its home appliance business. GE Appliances could sell for as much as $2 billion, according to Bloomberg. The sources said Quirky could team up with private-equity firms to acquire a majority stake, while GE would have a minority holding. Last November, GE invested $30 million in Quirky as part of an initiative to focus on smart-home devices. News of a potential sale of the appliances unit comes as CEO Jeffrey Immelt puts an increased emphasis on industrial operations. TheStreet's Brittany Umar has details from New York.