lenovo mobile

HONG KONG, November 27, 2009 – Lenovo Group today announced that it is acquiring the entire interest of Lenovo Mobile Communication Technology Ltd. from a group of investors led by Hony Capital, the private equity arm of Legend Holdings. Today’s announcement signals that Lenovo is gearing up its efforts in the burgeoning mobile Internet market in China. Lenovo Mobile now ranks No.3 in China’s mobile handset market and is the No.1 domestic brand. The transaction is conditional upon Lenovo independent shareholder approval.

Convergence between the personal computing and mobile handset industry has been a key technology trend over the past several years worldwide. The two technologies today provide very different user experiences that are evolving and combining to create new generations of devices, applications and Internet services. In addition, China is entering a high growth phase. Driven by the government and telecom service carriers, the demand for mobile Internet devices has created a huge market.

Lenovo Mobile is dedicated to providing “stylish, simple, innovative and high-quality” products and value-added services that provide personalized solutions to satisfy individual needs and enhance the joy of mobile communication. Relying on its independent research and development and powerful sales channels, Lenovo Mobile has become a fundamental influence in the Chinese handset industry.

As a global leader in IT industry, Lenovo has been following the business opportunity in the fast growing mobile Internet market. With this acquisition, Lenovo aims to maximize the combined synergies of the two companies in product innovation, lean manufacturing, strong distribution channels and retail presence to lead the market for new mobile handheld devices in China
Lenovo Mobile has an experienced and successful leadership team in the China mobile industry, healthy financial performance, an extensive channel network, and good relationships with domestic telecom carriers in China.