Lenovo Acquiring Back its Lenovo Mobile Handset Business

Lenovo Group today announced that it is acquiring the entire interest of Lenovo Mobile Communication Technology Ltd. from a group of investors led by Hony Capital. Consideration of the acquisition is approximately US$200 million in cash and Lenovo shares. Lenovo has previously sold the company last year, at around US$100 million.

Yang Yuanqing, CEO of Lenovo Group, said: “As Lenovo’s global PC business continues to make steady progress, we view mobile Internet as a key growth opportunity moving forward globally. Lenovo has prepared itself in this area. We have developed first class products with excellent hardware and operating systems integration. We will launch these innovative new products in China soon.”