Lenovo begins $200M buyback of Lenovo Mobile

Published by Tech Pundit | Filed under Gadgets & Tech | November 27th, 2009

Of the many trends in consumer electronics, today’s announcement by Lenovo highlights two of the biggest: 1) PC makers are desperate to get in on that handheld smartphone action, and 2) China is the place to do it with its 700 million mobile subscribers. That’s why Lenovo is putting up $200 million in cash and stock to reacquire its former mobile business sold to a group of investors last year — something made possible by Lenovo’s recent return to profitability. Just don’t be surprised when you see Lenovo branded handsets headed downtown stores or your favorite high-street shops — assuming the deal passes shareholder approval, of course.

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Lenovo begins $200M buyback of Lenovo Mobile