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  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

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
Liu, Lenovo senior vice president and president of Mobile Internet and Digital Home, introduces the Lenovo K800 smart phone at the Consumer Electronics Show in Las Vegas

SHANGHAI (Reuters) - 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)

Stocks mentioned in the article
ChangeLast1st jan.
APPLE 0.44% 186.5 Delayed Quote.9.73%
LENOVO GROUP LIMITED 1.44% 4.24 End-of-day quote.-4.29%
SAMSUNG ELECTRONICS CO LTD --End-of-day quote.
ZTE CORPORATION --End-of-day quote.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
01:08pEuro zone to link payout of 4.8 billion euros to continued Greek reforms
RE
01:05pEU watchdog wants new rules for foreign exchanges after Brexit
RE
01:05pC3 Insurance Launches New Technology, a Smartphone Inspection App for Businesses
SE
12:49pUK's M&S, Microsoft sign artificial intelligence deal
RE
12:48pMINISTRY OF MINES OF REPUBLIC OF INDIA : Private sector must play key role in exploration of the deep seated minerals
PU
12:46pBank of England chief economist votes for rate rise, boosting chance of Aug hike
RE
12:44pOPEC edges closer to raising oil output, Iran's agreement is key
RE
12:43pIFA IRISH FARMERS ASSOCIATION : Secures change to vacant site legislation for farmland
PU
12:39pEU's Juncker says U.S. tariffs go against 'all logic and history'
RE
12:39pOPEC's Barkindo says expects "successful" policy meetings this week
RE
Latest news "Economy & Forex"
Advertisement