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
10:53p Emergency Alerts Now Distributed via the COPsync Network
10:53pDJAMERICAN EXPRESS : Appeals Court Tosses Antitrust Judgment Against American Express
10:52p AVIC INTERNATIONAL : is interested in implementation of investment projects in Armenia
10:52p WESTERN REFINING, INC. : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
10:52p NEW YORK REIT, INC. : Financial Statements and Exhibits (form 8-K)
10:52p INTERNATIONAL COUNCIL OF BIOTECH ASSOCIATIONS : Promotes Global Biotech Week
10:51p KCG HOLDINGS, INC. : Other Events (form 8-K)
10:50p PUBLIX SUPER MARKETS : Names Senior Vice President of Real Estate and Facilities and Vice President of Facilities
10:50p MEDICAL PROPERTIES TRUST : Steward Receives $1.25 Billion Investment from Medical Properties Trust, Setting Stage for National Growth
10:50p Mylan clears extra $164M in profit from EpiPen that CEO didn't disclose ...
Latest news
Advertisement
Hot News 
15.83%Germany's Lanxess to buy U.S. chemical firm Chemtura for $2.7 billion
8.14%Lanxess Shares Rise on Acquisition of Chemtura
4.64%Monogram Residential Trust Explores a Sale
-2.96%VAIL RESORTS : Revenue Grows on Season Pass Sales
11.72%Lamprell Secures $90 Million Vessel Upgrade Contract
Most Read News
04:54a LOTTE CHEMICAL : South Korea prosecutors seek arrest warrant for Lotte Group chairman
04:33a Germany's Lanxess to buy U.S. chemical firm Chemtura for $2.7 billion
08:01a Aldi UK says profit fall won't change German parent's investment plans
06:58aDJGERMAN GOVERNMENT : No Need to Speculate About State Aid for Deutsche Bank
09/25DJLanxess Shares Rise on Acquisition of Chemtura
Most recommended articles
10:50aPredicting the U.S. Elections With The WMA Trump/Clinton Barometer
04:36pDJMonogram Residential Trust Explores a Sale
04:28p Fed seeks more capital from big banks, relief for regional lenders
04:24pDJStocks Down as Bank Shares Fall
04:23pDJGrains, Soybeans Decline On Harvest-Friendly Forecasts