Lenovo Group is no longer playing mobile phones. Sell it!

Sina science and technology news on October 10, January 31, Lenovo Group just released an announcement saying, lenovo Mobile, its mobile phone business, has signed an agreement yesterday to sell it to Jade ahead, ant capital, ample growth, super pioneer, and other institutions for $0.1 billion. (NIU lixiong)

 

From: http://tech.sina.com.cn/it/2008-01-31/08162007496.shtml

 

Lenovo Group said that the sale of mobile phone services helped Lenovo Group to carry out its long-term strategy development focus, so that the Group and management can focus more on its core PC business, continue to grow faster than the global PC market.
Early in the morning, Lenovo Group announced the sale of $0.1 billion to private equity funds such as Jade ahead, elephant venture capital, ample growth, and super pioneer. lenovo's revenue for the third quarter was $4.6 billion, according to the report on the same day. this financial report was delayed for one night due to the delivery of the mobile phone sales business.

A Lenovo Group spokesman said that the sale of mobile phone services helped Lenovo Group to carry out its long-term strategic development focus so that the Group and management can focus more on its core PC business, continue to grow faster than the global PC market.

This transaction gives the mobile phone business independent operation and the opportunity to develop its own strategic direction. Two of the four private equity funds acquired are based on hongi investment under Lenovo holdings.

The spokesman also said that the decision on the mobile phone sales business is based on Lenovo's long-term growth strategy and four strategic plans, which are: expand trading business globally (with strong growth in various regions around the world and win orders from Fortune 500 companies) and improve global supply chains (in Q3, service capabilities are further improved, material cost reduction percentage reaches double-digit), Injects Vitality into the desktop business (has achieved the highest market share for years), global brand building (through Olympic sponsorship, consumer product release, f1 ).