Lenovo smartphone device in development
Lenovo looks set to follow HP, Acer and Dell into the congested mobile phone market after confirming it is to buy back its handset unit, with a smartphone device already in development.
The Lenovo Mobile division describes the mobile internet device as something that falls somewhere between a netbook and a smartphone. Chief financial officer Wong Wai Ming said, "We have prototypes already, and we need a strong execution platform."
Having enjoyed a recent return to profitability, Lenovo who sold its handset unit just 18 months ago, is set to re-acquire the part of the business for $200m, double the amount they had originally sold it for.
This latest development comes as the company realigns its business focus towards China. According to analysts, the Chinese mobile internet market is set to escalate to $16 billion by 2014, and Lenovo clearly has an eye on owning a substantial piece of that market.
Any Lenovo smartphone/netbook device is likely to hit stores in China only, but as we have seen with fellow PC-makers turned mobile manufacturers Dell, we wouldn’t rule out an appearance over here too.
Link: FT
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