Menu
Lenovo buys back phone unit with eye on mobile Web products

Lenovo buys back phone unit with eye on mobile Web products

It hopes to tap the growing mobile Internet device market

Lenovo will buy back the mobile phone unit that it spun off last year, reversing a move it originally made to focus on its core business in PCs, the company said late Friday.

The PC maker will buy Lenovo Mobile for around US$200 million in cash and stock to tap a growing market for mobile Internet devices, it said in a statement.

Growing similarities between PCs and mobile phones are creating a new device category that Lenovo sees as a key growth opportunity in China and worldwide, it said.

Lenovo is buying its handset unit back from a group of investors who bought it for $100 million last year. The group is headed by Hony Capital, the private equity arm of Legend Holdings, which is also Lenovo's parent company.

Lenovo has struggled since the global economic recession began sapping demand for its PCs in developed markets.

The company posted its first net profit in a year during its most recent fiscal quarter, after a restructuring brought its focus back to China and other emerging markets.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags mobile phonesLenovo

Featured

Slideshows

Meet the leading female front runners of the Kiwi channel

Meet the leading female front runners of the Kiwi channel

Reseller News honoured the leading female front runners of the New Zealand channel at the 2018 Women in ICT Awards (WIICTA) in Auckland. The awards honoured standout individuals across seven categories, spanning Entrepreneur; Innovation; Rising Star; Shining Star; Community; Technical and Achievement.

Meet the leading female front runners of the Kiwi channel
Meet the top performing customer-centric Microsoft channel partners

Meet the top performing customer-centric Microsoft channel partners

Microsoft honoured leading partners across the channel following a year of customer innovation and market growth in New Zealand. The 2018 Microsoft Partner Awards recognised excellence within the context of the end-user, spanning a host of emerging and established providers.

Meet the top performing customer-centric Microsoft channel partners
Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Show Comments