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

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
08:21p NORTHERN TRUST : London Office Signs Women in Finance Charter
08:21p ASIAN PAINTS : JSW group to enter into paints market; plans to invest Rs 1000 crore
08:20pDJMARKET SNAPSHOT : Stock Market Bounces Off Session Lows, But 'Trump Trade' Seen Cooling
08:20p INSIDER TRADING ACTIVITY ORACLE CO. (NYSE : ORCL) – CEO Sold 518,072 shares of Stock
08:20p INSIDER TRADING ACTIVITY ROCKWELL COLLINS, INC. (NYSE : COL) – COO Sold 7,311 shares of Stock
08:20p Goldberg Law PC Announces Securities Class Action Lawsuit against DaVita Inc. and Encourages Investors with Losses to Contact the Firm
08:19p INSIDER TRADING ACTIVITY GENIE ENERGY LTD (NYSE : GNE) – Director Sold 5,000 shares of Stock
08:19p INSIDER TRADING ACTIVITY HUNTINGTON INGALLS INDUSTRIES INC (NYSE : HII) – VP Sold 4,137 shares of Stock
08:19p ALANTRA PARTNERS : appointed as financial advisor to BMN on its merger project with Bankia
08:19p NETL NATIONAL ENERGY TECHNOLOGY LABORATORY : University of Kentucky Project Closes in on Coal-to-Liquids Process for Cleaner Transportation Fuels
Latest news
Advertisement
Hot News 
-4.31%Babcock agrees termination of UK nuclear decommissioning deal
13.31%UK materials testing firm Exova says gets proposals for cash offers
1.28%China's ICBC appoints former FDIC chief Bair as independent director
-1.15%ZURICH INSURANCE : says no plans to hike capital now, seeks flexibility
3.30%FIRSTGROUP : MTR JV Wins South Western Rail Franchise
Most Read News
09:29a Once golden, Robert Rubin's hedge fund proteges lose some luster
05:45aDJForeign Investors Flock to Iran as U.S. Firms Watch on the Sidelines
10:47a Toshiba wants Westinghouse to file for bankruptcy as early as Tuesday
10:47a Toshiba shares rise after report Westinghouse may file bankruptcy Tuesday
02:04p Asset sales plan secures EU backing for $130 billion Dow, DuPont merger
Most recommended articles
03/21 UK to investigate any UK banking involvement in 'Laundromat' case
02:11pDJSAMSUNG ELECTRONICS : Plans Comeback for Galaxy Note 7 Smartphone
02:07p Norton Rose Fulbright names Soliman chair of Canadian division
02:04p Asset sales plan secures EU backing for $130 billion Dow, DuPont merger
02:03p BILL GROSS SETTLES PIMCO LAWSUIT FOR ABOUT $81 MILLION : sources