Lenovo's smartphone gains could fuel global M&A efforts

01/24/2013 | Bloomberg Businessweek · Wall Street Journal, The

Smartphone sales are surging in its home market, so China's Lenovo Group has its eye on acquisitions and potential partnerships elsewhere, said Chief Financial Officer Wong Wai Ming, who named BlackBerry maker Research In Motion as a theoretical target. Wong said Wednesday that Lenovo has turned a profit in China, and the strong results would fund the company's forays into other markets. The PC maker "can leverage the scale they have in PCs to develop the mobile Internet side of the business," said Hong Kong-based analyst Jean-Louis Lafayeedney of JI Asia.

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Bloomberg Businessweek · Wall Street Journal, The

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