Rumor: Lenovo to Spin Off Smart TV Unit as JV with Alibaba
Jiemian, 5/14/15
An insider at Chinese consumer electronics manufacturer Lenovo (0992.HK) has told journalists that Lenovo's smart TV business unit will be spun off from Lenovo and launched as a new TV brand and independent company. Lenovo hopes as an independent operation it will be better able to attract investors and spur its own innovation.
The source added that the new venture will be a registered JV owned by Lenovo and Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA), along with other investors, and will release a new TV brand called "17" on May 20. Alibaba will contribute its YunOS operating system to the product line as well as sales channels via its B2C e-commerce site Tmall. The "17" brand will principally be sold online, but the new venture will be continue to provide service for Lenovo TVs and cover the traditional offline markets for Lenovo TVs.
Keywords: e-commerce Lenovo television JV 0992.HK Alibaba Group smart TV Tmall BABA YunOS spin-off TV set