Sina Tech, 11/30/11
Chinese laptop, PC, and handset manufacturer Lenovo (0992.HK) revealed at the 2011 Lenovo Mobile Internet Developers Conference in Beijing today that 18 out of more than 1,000 projects that applied will receive nearly RMB 60 mln in combined funding from the LeFund mobile app development incubator fund. The LeFund investment fund was first unveiled at the same conference in 2010, with an initial investment of RMB 100 mln to be overseen by a team of professional investors which answers directly to parent company Legend Holdings.
Lenovo CEO Yang Yuanqing revealed in his keynote speech at the conference that there are currently more than 13,000 apps available through Lenovo's mobile applications store, 1,300% more than this time last year. The number of downloads also increased by 1,000%, and the Lenovo mobile applications store is currently partnered with more than 12,000 developers.
Editor's Note: For more information on this topic, please see "Lenovo Launches Mobile Application Incubator Fund" MD 11/12/10 issue.