Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Lenovo to launch mobile devices facility in central China

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/07/2012 | 05:38am CEST

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)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
05:43a ALLEGHENY TECHNOLOGIES' : flat-rolled products division could be "modestly profitable" by year's end
05:42a WALGREENS : Santa Fe stores won't charge for small paper bags
05:40a RED ROBIN GOURMET BURGERS : Car show Saturday to benefit Special Olympics
05:39aDJOil Hovers at Three-Month Low as Gasoline Glut Threatens Crude Demand
05:28a NIKKEI : Asia stocks near one-year highs; yen slips on BOJ easying bets
05:25a Japan PM Abe to announce 27 trillion yen stimulus package - Fuji TV
05:24a MITSUBISHI HEAVY : Corporation Participates in Residential Development Project in Vietnam
05:24a SINGAPORE TELECOMMUNICATIONS : Singtel Newsstand offers leading news publications and data-waived usage
05:24a CENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : World Intellectual Property Organization
05:24a CENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : International Monetary Fund
Latest news
Advertisement
Hot News 
-8.49%CENTENE : Tops Views on Acquisition Benefits
-4.26%T ROWE PRICE : Profit Falls on Dell-Vote Error
5.16%Caterpillar shares up on earnings beat; cuts 2016 outlook
-8.47%GILEAD SCIENCES : cuts 2016 sales forecast, cites hepatitis C drugs
-4.42%REYNOLDS AMERICAN : Sales Climb, Helped by Lorillard
Most Read News
06:17p Wall St. mixed, Apple impresses and Twitter disappoints
07:00p CITY OF WEST TORRENS : 2016 Census
Most recommended articles
11:39pDJOil Hovers at Three-Month Low as Gasoline Glut Threatens Crude Demand
11:28p NIKKEI : Asia stocks near one-year highs; yen slips on BOJ easying bets
11:25p Japan PM Abe to announce 27 trillion yen stimulus package - Fuji TV
11:19p Australia's major banks team up to challenge Apple on mobile payments apps
10:40pDJTRUSTPOWER : Loses Court Case on Tax Deductions