Huanqiu Tech, 6/03/13
Chinese consumer electronics manufacturer Lenovo (0992.HK) and Japanese electronics conglomerate NEC are in the final stages of establishing an integrated smartphone manufacturing and retail joint venture, according to Japanese newspaper Yomiuri Shimbun. The deal is expected to be completed at the end of June.
According to industry sources, Lenovo and NEC are currently engaged in discussions as to the financing and specific operations of the JV.
Editor's Note: For more background on this topic, please see "Rumor: Lenovo to Purchase NEC Handset Business" MD 3/29/13 issue.