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Lenovo, Compal invest in notebook JV
By Cathy Ding |
September 28, 2011, Wednesday
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Print Edition
Print Edition
LENOVO Group, the world's third-biggest maker of personal computers, said it is partnering Compal Electronics Inc to invest US$300 million in a joint venture to produce notebook computers in China.
The investment in the joint venture, called Lienpal (Hefei) Ltd, will be done in two phases and Lenevo will own 51 percent of the new company while Compal takes the balance, the Chinese PC maker said in a statement to the Hong Kong Stock Exchange yesterday.
Lienpal (Hefei) Ltd, to be set up in the eastern city of Hefei in Anhui Province, is set to be operational by the end of 2012, the partners said.
Lenovo added that the new joint venture will give it additional manufacturing capacity which is needed to support its planned growth in the global PC market.
Lenovo, with headquarters in Beijing and North Carolina, acquired majority stakes in Medion AG and the PC operations of NEC Corp this year to expand in the German and Japanese markets. It took over the PC division of IBM in 2005 to expand internationally.
Lenovo, which expects to overtake Dell Inc, accounted for 12 percent of global shipments of PCs in the second quarter this year, up from 9.7 percent in the first three months, according to research company Gartner Inc.
The investment in the joint venture, called Lienpal (Hefei) Ltd, will be done in two phases and Lenevo will own 51 percent of the new company while Compal takes the balance, the Chinese PC maker said in a statement to the Hong Kong Stock Exchange yesterday.
Lienpal (Hefei) Ltd, to be set up in the eastern city of Hefei in Anhui Province, is set to be operational by the end of 2012, the partners said.
Lenovo added that the new joint venture will give it additional manufacturing capacity which is needed to support its planned growth in the global PC market.
Lenovo, with headquarters in Beijing and North Carolina, acquired majority stakes in Medion AG and the PC operations of NEC Corp this year to expand in the German and Japanese markets. It took over the PC division of IBM in 2005 to expand internationally.
Lenovo, which expects to overtake Dell Inc, accounted for 12 percent of global shipments of PCs in the second quarter this year, up from 9.7 percent in the first three months, according to research company Gartner Inc.
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