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Lenovo to form joint venture with EMC
By Zhu Shenshen |
August 1, 2012, Wednesday
|
Online Edition
Online Edition
LENOVO Group Ltd announced today that it will establish a joint venture with US-based storage product giant EMC, which is expected to help the world's second biggest personal computer maker expand into the higher-margin storage and server markets.
As part of the agreement, Lenovo will resell machines made by EMC. The sales will initially be conducted in China before moving abroad, according to both sides' announcements.
Lenovo will hold a 51 percent stake in the joint venture through contributing an undisclosed sum of cash and EMC will hold the remainder by injecting assets and resources, according to Lenovo, which declined to reveal detailed financial figures.
"This cooperation is another step for use to adopt our PC Plus Strategy," said Yang Yuanqing, Lenovo's chairman, in a statement. "The sever and storage business will also improve our backdoor service level."
As part of the agreement, Lenovo will resell machines made by EMC. The sales will initially be conducted in China before moving abroad, according to both sides' announcements.
Lenovo will hold a 51 percent stake in the joint venture through contributing an undisclosed sum of cash and EMC will hold the remainder by injecting assets and resources, according to Lenovo, which declined to reveal detailed financial figures.
"This cooperation is another step for use to adopt our PC Plus Strategy," said Yang Yuanqing, Lenovo's chairman, in a statement. "The sever and storage business will also improve our backdoor service level."
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