November 27, 2009, Lenovo Group today announced the investment by the Hony led some investors buy Lenovo Mobile Communication Technology Limited ( "Lenovo Mobile"), all the rights and interests, Hony investment is Legend Holdings Limited member firms do secondary M & A investment business company. Total purchase of approximately 200 million U.S. dollars, will be paid in cash and Lenovo shares. Lenovo Mobile is currently ranked in the top three Chinese mobile phone market, the Department of domestic mobile phone brand. The acquisition marks the association will fully enter the fast-growing Chinese mobile Internet market. Lenovo Group of the transaction be approved by independent shareholders.
Around the world, with the 3G network becomes more mature, personal computers and mobile terminals integrated into the industrial development trend and continue to birth out of mobile Internet-based new products, new applications and new services. In China, due to the government and the great efforts of telecom operators, 3G network development, is in full swing, the demand for mobile Internet devices has become a huge market.
Industry analysts expected, with the rapid development of 3G mobile broadband and the accompanying multimedia Internet services, is expected in 2014 China's mobile Internet market will be more than 16 billion U.S. dollars.
As a global IT leader, Lenovo has been concerned about the mobile Internet terminal market in the fast-growing business opportunities. Through the timely acquisition of Lenovo Mobile, Lenovo will give full play to the two sides in product innovation, lean manufacturing, sales channels and retail network synergies to become China's mobile Internet market leader in the terminal.
Yang, CEO of Lenovo Group, said: "Lenovo's global PC business continued to develop steadily, we will be mobile Internet as an important future strategic direction. Lenovo has won this market a long, well prepared, self - developed hardware and software integration, world-class innovative products will soon be launched first in China. With Lenovo's brand, channel strengths and excellent operating platform, we are confident in China, this unique market, the implementation of mobile Internet strategy, After making Lenovo's PC business in China, following another growth engine, and gradually extended to the world, thereby promoting the development of the Group's business to a new level. "
Lenovo Mobile has an experienced management team, a healthy financial position, strong channel system, and with the domestic telecom operators have maintained good relations of cooperation, the current market share in China's mobile phone market, ranked the top three, in the domestic brands ranked 1.
Lenovo at the March 2008 sale of Lenovo Mobile, in order to focus on its core personal computer business. The acquisition reflects the market as mentioned above in the past 18 months was observed. (Translate by Google)