Lenovo to Cease Acquiring Hardware Companies

Sina Tech, 9/25/12

Liu Chuanzhi, chairman of Lenovo's (0992.HK) parent company Lenovo Holdings, recently told a meeting of news editors that Lenovo will no longer acquire hardware companies, according to CNET China editor-in-chief Liu Keli, who attended the meeting.

Liu Chuanzhi also revealed that Lenovo Holdings intends to IPO sometime between 2014 and 2016 and plans to expand beyond the computer industry. Liu added that with the recent acquisition of Brazilian electronics manufacturer Comércio de Componentes Eletrônicos (CCE), Lenovo will rank first in terms of global PC market share in Q3 2012. He added that the company is not likely to acquire HP's PC division, and moving forward its only IT industry acquisitions will be in software and services.

Keywords: strategy Liu Chuanzhi hardware Lenovo Lenovo Holdings 0992.HK Comércio de Componentes Eletrônicos M&A

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