27 Nov 09 Lenovo Buying Back Lenovo Mobile for $200M
Lenovo has started to map out plans to re-acquire its former mobile business, Lenovo Mobile, putting up $200 million in cash and stock thanks to its return to profitability. Lenovo Mobile was sold to a group of investors last year and now it looks like they are ready to buy it back. Once they do, their main target is to penetrate the promising Chinese market which boasts of over 700 million subscribers. But don’t be surprised to see it at local shops too. For sure there will be a couple popping out at the least time you expect them too.
(Source) Engadget
Popularity: 1% [?]
Tags: chinese market, investors, million subscribers, mobile business, profitability, stock, target
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