Lenovo Plans to Join Crowded Smartphone Market
Jun 4th 2013 7:00AM
Asian PC giant Lenovo has joined the long line of companies that plan to enter the very crowded smartphone market. Is it any wonder? Personal computer sales have fallen through the floor, while at the same time smartphone sales have soared. The trouble with the Lenovo plan is that Apple Inc. (NASDAQ: AAPL), Samsung and a host of second-tier players have the market for smartphones in a vice.
Reuters says of the Lenovo smartphone venture:
China's Lenovo Group Ltd, the world's No.2 PC maker, is in detailed discussions on a smartphone venture with NEC Corp, a Japanese partner in PCs whose mobile business is faltering, as it eyes partnerships and acquisitions to expand in high-growth markets.
Lenovo has been aggressively forging deals over the past eight years to gain prominence in PCs, and that strategy is now shifting to smartphones, tablets and enterprise computing as PC shipments decline.
Filed under: 24/7 Wall St. Wire, PC Companies, Wireless Tagged: AAPL