China's Lenovo Takes Aim at Mobile Internet Space

China's Lenovo, the world's No. 4 PC maker, said on Wednesday it will develop more products this year for the mobile Internet, attempting to gain ground after a late start into the hot smartphone space.

Lenovo entered the mobile phone segment last year when it repurchased the mobile unit it sold off less than two years earlier. It had originally sold off the unit to focus on its core PC business, but made the repurchase in a nod to the growing convergence between smartphones and PCs. Lenovo CEO Yang Yuanqing also said that Lenovo is aiming to gain market share in its home China market, where it now controls about a third of the market, as it seeks to return to its roots as an emerging market specialist following its disastrous purchase of IBM's PC assets. "The Chinese market is growing very fast," he said, speaking to reporters on the sidelines of the opening session of the annual Chinese People's Political Consultative Conference. "I'm confident we can grow our market share."

Lenovo previously said its China sales jumped 41 percent in the quarter through December, as it and its peers benefitted from China's 4 trillion yuan ($585 billion) stimulus spending package, partly aimed at encouraging the public sector and rural consumers to buy more electronic products.

Published Date: Mar 03, 2010 03:16 pm | Updated Date: Mar 03, 2010 03:16 pm