Topics Mobile Tech News Sunday, December 17

Headlines

Contact us


Site search:
complete archives list




Site Sponsors:


Don't forget AT&T and Verizon promo codes at Sidepon.com to save money.


Lenovo to Acquire Mobile Handset Business
Posted: 27-Nov-2009 [Source: Lenovo]

[Lenovo Group buys back its Mobile group in a $200M plus stock deal.]

Hong Kong -- Lenovo Group today announced that it is acquiring the entire interest of Lenovo Mobile Communication Technology Ltd. from a group of investors led by Hony Capital, the private equity arm of Legend Holdings. Consideration of the acquisition is approximately US$200 million in cash and Lenovo shares. Today's announcement signals that Lenovo is gearing up its efforts in the burgeoning mobile Internet market in China. Lenovo Mobile now ranks No.3 in China’s mobile handset market and is the No.1 domestic brand. The transaction is conditional upon Lenovo independent shareholder approval.

Convergence between the personal computing and mobile handset industry has been a key technology trend over the past several years worldwide. The two technologies today provide very different user experiences that are evolving and combining to create new generations of devices, applications and Internet services. In addition, China is entering a high growth phase. Driven by the government and telecom service carriers, the demand for mobile Internet devices has created a huge market.

Industry analysts project the China mobile Internet market will grow to exceed US$16 billion by 2014, fueled by the rapid evolution of 3G mobile broadband and accompanying multimedia Internet services.

As a global leader in IT industry, Lenovo has been following the business opportunity in the fast growing mobile Internet market. With this acquisition, Lenovo aims to maximize the combined synergies of the two companies in product innovation, lean manufacturing, strong distribution channels and retail presence to lead the market for new mobile handheld devices in China.

Yang Yuanqing, CEO of Lenovo Group, said: “As Lenovo’s global PC business continues to make steady progress, we view mobile Internet as a key growth opportunity moving forward globally. Lenovo has prepared itself in this area. We have developed first class products with excellent hardware and operating systems integration. We will launch these innovative new products in China soon. With enovo’s brand, strong channel and excellent operation platform, we’re confident in our ability to execute our mobile Internet strategy and make it our next growth engine after the China business.”

Lenovo Mobile has an experienced and successful leadership team in the China mobile industry, healthy financial performance, an extensive channel network, and good relationships with domestic telecom carriers in China.

More...

Back to Headlines...

Apple Watch Apple Watch

iPhone 6 and iPhone 6 Plus iPhone 6 and iPhone 6 Plus

Amazon Fire Amazon Fire

Samsung Z - Tizen Samsung Z - Tizen

LG G3 LG G3

HTC One mini 2 HTC One mini 2

OnePlus One OnePlus One

HTC One (M8) HTC One (M8)

Samsung Gear 2 Tizen Watch Samsung Gear 2 Tizen Watch

HP VoiceTab HP VoiceTab

T200 octa-core T200 octa-core

Nokia 2520 Tablet Nokia 2520 Tablet

Samsung Galaxy Round Samsung Galaxy Round

BlackBerry Z30 BlackBerry Z30

iPhone 5S and iPhone 5C iPhone 5S and iPhone 5C

Samsung Galaxy Mega Samsung Galaxy Mega

Sony SmartWatch 2 Sony SmartWatch 2

iOS 7 iOS 7

Jolla Jolla

BlackBerry Z10 BlackBerry Z10

Galaxy S 4 Galaxy S 4

Galaxy Note 8.0 Galaxy Note 8.0

Ubuntu on Tablets Ubuntu on Tablets

LG Optimus G Pro L-04E LG Optimus G Pro L-04E

Firefox OS Firefox OS

Sony Zperia Z Sony Zperia Z



 

Valid HTML 4.1!

RSS © 1999-2017 Traques LLC
All times recorded in UTC
webmaster@MobileTechNews.com