Related News
Lenovo buys back its mobile phone arm
By Zhu Shenshen |
November 30, 2009, Monday
|
Online Edition
Online Edition
LENOVO Group Ltd plans to use US$200 million to reacquire its mobile phone business sold to an investor group last year, China's biggest personal computer vendor said at the weekend.
The acquisition, whose price doubled Lenovo's selling price in 2008, represented a huge opportunity with the convergence of PCs and smart phones, analysts said.
Lenovo plans to acquire the entire interest of Lenovo Mobile Communication Technology Ltd from a group of investors led by the private equity arm of Legend Holdings for US$200 million in cash and shares, the company said.
"We view mobile Internet as a key growth opportunity moving forward globally," said Lenovo's chief executive Yang Yuanqing.
Lenovo started Lenovo Mobile in 2002. But Lenovo, the world's No. 4 PC vendor, sold it to focus on its US$100-million PC business last year.
Now Lenovo Mobile is the top China-brand handset maker in the domestic market but its sales still lag behind Nokia Corp and Samsung.
The convergence trend of PCs and handsets has become clear and it will create a much bigger market for PC makers, said JT Wang, chairman of Acer Inc, the world's No. 2 PC maker.
The acquisition, whose price doubled Lenovo's selling price in 2008, represented a huge opportunity with the convergence of PCs and smart phones, analysts said.
Lenovo plans to acquire the entire interest of Lenovo Mobile Communication Technology Ltd from a group of investors led by the private equity arm of Legend Holdings for US$200 million in cash and shares, the company said.
"We view mobile Internet as a key growth opportunity moving forward globally," said Lenovo's chief executive Yang Yuanqing.
Lenovo started Lenovo Mobile in 2002. But Lenovo, the world's No. 4 PC vendor, sold it to focus on its US$100-million PC business last year.
Now Lenovo Mobile is the top China-brand handset maker in the domestic market but its sales still lag behind Nokia Corp and Samsung.
The convergence trend of PCs and handsets has become clear and it will create a much bigger market for PC makers, said JT Wang, chairman of Acer Inc, the world's No. 2 PC maker.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
