Member access

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
02:04a PAYPOINT : LONDON MARKET COMMENT: Germany Undercuts Optimism Over Greece
02:04a ASCOM : Achieves Cisco Compatibility Certification
02:04a MITSUBISHI ELECTRIC : to Announce About Introduction of Performance-based Stock Compensation Plan for the Executive Officers
02:04a LINDAB : International AB: takes firm action against internal fraud in Hungary
02:04a OSE PHARMA : and Simbec-Orion to participate in the 51st annual Meeting of the American Society of Clinical Oncology, May 29th to June 2nd 2015, Chicago
02:04a FALCON OIL & GAS : Interim Results for the Three Months Ended 31 March 2015
02:03a FALCON OIL & GAS : Interim Results for the Three Months Ended 31 March 2015
02:03a EKINOPS : Announces Wireless Fronthaul Solution
02:01a EVN : Business development in the first half year of 2014/15 (DGAP News)
02:01a DGAP-NEWS : amp biosimilars AG: Erfolgreiche Auslizensierung des ersten Biosimilars
Latest news
Advertisement
Hot News 
BROADCOM : Avago tipped to buy Broadcom
MICHAEL KORS : reports slow growth as handbag demand falls in US
TIFFANY : sales rise as new range suits fashion buyers down to a T
MERU NETWORKS : Law Firm Kirby McInerney LLP Investigating Potential Claims on Behalf of Meru Networks, Inc. Stockholders
TIGENIX : Safety and tolerability of Cx611 confirmed in Phase I sepsis challenge trial
Most Read News
05/27DJSEMTECH : Results Hurt by Smartphone Customer Demand
05/27 PACIFIC ENVIRONMENT : Africa Australia Technical (AAT) Mining Conference 2015
05/27 Questions arise about banks' role in FIFA bribery case
05/27DJKEPPEL DC REIT : To Acquire Property in Sydney for A$43.3 Million From Macquarie Telecom
05/27DJSilicon Valley Races to Make TV the Next Frontier for Apps
Most recommended articles
02:00a TECHNOLOGY REPLACES SCHMOOZING : the future of private banking
01:49a India tipped to overtake China in Modi's first year despite sluggish feel
01:48aDJMaybank 1Q Net Rises 6.3% on Loan Growth, Higher Fee Income
01:41aDJDollar Hits Over 12-Year High Against Yen
01:33a ECB's Nowotny says currently can't accept Greek collateral