Lenovo explores Acquisition Possibilities

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

 

Amidst reported talks of acquisition of some firms including Canadian smartphone maker RIM by PC manufacturer Lenovo, the Chinese company has said it is on its way to explore possibilities in the direction. “However, we will never depend on acquisition,” said Wong Wai Ming, Senior Vice-President & Chief Financial Officer, Lenovo Group.

India remains high in Lenovo’s scheme of things. Commenting on the year gone by, Amar Babu, Managing Director, Lenovo India, said, “The year 2012 marked a series of milestones for us – our Protect & Attack strategy, which refers to securing our leadership in our core businesses, while attacking newer opportunities, ensured that our overall profitability was not compromised in the run for market share. We will continue to invest in the India business, and I am confident that we will sustain this momentum in the years to come.”

Meanwhile, Lenovo has reported a quarterly profit of $204.9 million for the third quarter ended December 2012, up 30 per cent from $154 million in the corresponding period previous year......See More