Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Lenovo to launch mobile devices facility in central China

05/06/2012 | 11:38pm US/Eastern

Lenovo Group Ltd, the world's No.2 PC maker by sales, said on Monday that it will invest about 5 billion yuan ($793 million) over the next five years in an integrated mobile devices facility in China to meet rising global demand for smartphones and tablet computers.

The Lenovo (Wuhan) Industrial Base, located in the city of Wuhan in central Hubei province, will carry out research and development, production and sales of mobile devices such as the company's LePhone smartphones and LePad tablet computers for China and global markets.

The facility is scheduled to begin operations in October 2013, Lenovo said in an emailed statement.

Lenovo, one of China's best-known consumer brands, has been attempting to make inroads into the booming mobile devices market, where it competes with Apple Inc, Huawei Technologies Co Ltd, Samsung Electronics Co Ltd and ZTE Corp.

Lenovo said sales from the industrial base were projected to reach 10 billion yuan by 2014, and to rise to 50 billion yuan within the next five years.

In the fiscal third quarter ended December, Lenovo shipped 400,000 tablets globally and 6.5 million handsets, including smartphones, executives said on March 3. Lenovo is the No.2 tablet brand in China behind Apple.

Lenovo's sales of mobile internet and other digital consumer devices rose 159 percent year on year to $565 million in the quarter, largely from mobile handset sales in China.

(Reporting by Melanie Lee; Editing by Chris Lewis)

React to this article
Latest news
Date Title
05:51a KROGER : announces scholarship winner
05:48a OOREDOO : unveils enhanced Wi-Fi and support services for Fibre customers
05:47a TWi Pharmaceuticals President & CEO Ms. Tina Guilder will resign from her current roles and Chairman Dr. Chih-Ming Chen will become interim President & CEO, leading the Company in its continued efforts to develop high-entry-barrier generics for the U.S. market
05:43a AMEC FOSTER WHEELER : Foster Wheeler says ready to return to Iran
05:41a VOLKSWAGEN : Tribunal seals end of failed Volkswagen-Suzuki partnership
05:41a VOLKSWAGEN : Tribunal seals end of failed Volkswagen-Suzuki partnership, Suzuki to buy back VW's stake
05:40a TECOM : Bee'ah awarded integrated waste management and recycling contract for Burj Khalifa
05:35a CATERPILLAR : Outgoing VC president leaves legacy of workforce training
05:30a 1PM : Holdings in Company
05:29a NEXTEER AUTOMOTIVE : Reports First Half 2015 Interim Financial Results
Latest news
Advertisement
Hot News 
OPPORTUNITY INVEST MGMT : 28 augustus 2015 - PRESS RELEASE: Announcement OIM 28 August 2015
MOLYCORP : Massive Mojave mine Molycorp to close, taking nearly 500 jobs
CHALLENGER ACQUISITIONS : Says It Is Focused On Integrating Starneth
MAVEN INCOME & GROWTH VCT : 4 Net Asset Value Total Return Rises
EUROCONSULT : 1,400 Satellites Projected to Launch Over Next Decade
Most Read News
08/29 NINTENDO NEWS : Xenoblade Chronicles X Special Edition Launches on Dec. 4
01:06a NIOC NATIONAL IRANIAN OIL : UKs Oil and Gas Giant Expresses Readiness to Return to Iran
01:05a Scott Dunn announce AED 3 million refurbishment of Chalet Eagle's Nest
02:09a Kids' lives too sweet
01:48a Amal's a hot shot
Most recommended articles
05:08a China fears linger as focus on Fed sharpens
05:02aDJCHINA CONSTRUCTION BANK : 1st Half Net Profit Up 0.9%
04:20a Despite raids, Macau pawn shops still help flout currency rules
03:34a Suzuki Motor to buy back VW stake as tribunal settles long feud
12:55a China is growing at 'reasonable' pace despite pressures - Premier Li