Lenovo to Enter US Handset Market

Sina Tech, 11/01/13

According to Yang Yuanqing, CEO of Chinese consumer electronics manufacturer Lenovo (0992.HK), the company is planning to build upon the success of its mobile phone business in emerging markets by entering the US and other mature markets.

Yang did not comment on recent rumors of a potential Lenovo acquisition of Canadian smartphone maker BlackBerry, or of the company's efforts to secure a USD 1.5 bln bank loan which may be used for the acquisition. While not addressing the issue directly, Yang emphasized that Lenovo has always been open to acquisitions as part of its normal business strategy. He indicated that ample funding is needed for Lenovo's mobile business operations, and the company will prepare accordingly.

According to sources close to the matter, Lenovo plans to enter the US market in 2015.

Editor's Note: For more background on Lenovo's potential acquisition of BlackBerry, please see "Rumor: Lenovo to Bid for BlackBerry" MD 10/17/13, and "Rumor: Lenovo Applies for USD 1.5 Bln Loan," MD 10/29/12 issue.

Keywords: overseas USA Yang Yuanqing handset smartphone wireless 0992.HK BlackBerry

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