Lenovo Sells Phone Unit
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The personal computer maker said it planned to sell its slumping cellphone unit so that it could focus on its personal computer business.
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While the details are still shrouded in mystery, sources close to the negotiations between computer giant IBM and the China-based PC maker Lenovo say that the companies will announce plans tonight for IBM to sell off its PC business for up to $2 billion.
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(InfoWorld) - Just two weeks after expanding its relationship with Best Buy, Lenovo GroupÂ said Wednesday it will try to win even more U.S. small business customers by selling its notebook PCs at Circuit City's retail shops. In both deals, customers will be able to buy Lenovo's ThinkPad T60 widescreen and Lenovo N100 notebook PCs. Circuit City will also sell extra variations of those models in its stores, and the C200 notebook over its Web site and the phone. The move makes Lenovo notebooks available to shoppers at Circuit City's 700 U.S. stores and Best Buy's 300 "Best Buy for Business" stores. The deal could reach even more consumers in 2008, when Best Buy plans to build 95 new stores in the U.S. Lenovo made the move because it sees a trend of more small business users purchasing their PCs at retail outlets instead of channels or online, according to a statement from Steve Mungall, Lenovo's vice president for worldwide and Americas channels. If it succeeds, the plan could help Lenovo return to profit after several weak quarters. The company relies strongly on revenue from China and Europe, while sales in the Americas have declined with a slump in enterprise demand. The company was also shaken earlier this month byÂ the sale of 300 million Lenovo shares by IBM, its second-biggest shareholder and the original owner of Lenovo's ThinkPad PC line. However, while Lenovo is making a wise move in using retail stores to reach small business buyers, it will face new challenges, one analyst said. Because retail stores attract a full spectrum of buyers, Lenovo must improve its marketing and product features to succeed. "Retail is a blunt sword to capture those customers as opposed to the sharp edge they are normally used to. Being in stores like Best Buy, Circuit City, and Office Depot means they need to be priced competitively against the more consumer-focused offerings on the shelf," said Stephen Baker, vice president of industry analysis for the NPD Group. To succeed with this strategy, Lenovo will have to sell PCs designed for both consumers and small businesses instead of the business-focused notebooks they have now. "Bottom line is they are entering a very tough segment with products that are trying to focus narrowly in a wide atmosphere. I suspect that they will be severely challenged to profitably expand their business to the customers they are interested in with this channel strategy," Baker said. In the meantime, Lenovo is sticking with its business focus. The company advertises the T60, with a weight of 5.1 pounds (2.3 kilograms),Â as the lightest 15.4-inch widescreen notebook available from the top five vendors. And Lenovo pitches the N100 to small business customers who want improved Wi-Fi for greater range and faster speeds in wireless connectivity. For Circuit City sales, both models come preloaded with Microsoft's Windows Vista Home Basic or Premium OS, while the online version of the T60 uses Vista Business. Â
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This week, IBM said it is selling off most of its PC division to Lenovo, China's No. 1 PC maker. The news is likely to rattle IBM customers - but it may end up benefiting them long term. USA TODAY reporter Michelle Kessler answers some questions many IBM customers are asking:
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China&#39;s largest personal computer maker, Lenovo Group Ltd. (0992.HK: Quote, Profile, Research) , said on Wednesday it is buying control of IBM&#39;s PC-making business for $1.25
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IBM has reached an agreement in principle to sell its personal computer business to Lenovo Group, China&#39;s largest PC maker, in a deal valued at $1 billion to $2 billion, people close to the negotiations said.
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BEIJING/SAN FRANCISCO  - IBM is selling its  PC-making business to China's largest personal computer  company, Lenovo Group Ltd., for $1.25 billion, marking the U.S.  company's retreat from an industry it helped pioneer in 1981.
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China&#39;s personal computer giant Lenovo Group Limited Wednesday signed an agreement with IBM to take over the latter&#39;s personal computer business for 1.25 billionUS dollars.
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Dec. 3--NEW YORK -- International Business Machines Corp. is negotiating with Lenovo Group Ltd. to sell its personal computer business to China&#39;s largest PC maker, the New York Times reported Friday.
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The Dutch private equity firm will sell the stake in the mobile telephone company to a Dutch investor.
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RF Micro Devices Inc., which makes chips for cell phones and wireless networking devices, has agreed to sell its Bluetooth assets for $39 million in cash to Qualcomm Inc., the company announced early Monday.
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Blog: The embattled PC maker makes another move into the retail channel with temporary promotional deal with European mobile phone and services retailer.
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IBM is selling its PC-making business to China's largest personal computer company, Lenovo Group Ltd., for &#36;1.25 billion, marking the U.S. company's retreat from an industry it helped pioneer in 1981.
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Lenovo Group has signed a five-year deal with IBMÂ to provide services and support to its customers. The deal, outlined in a filing with the Hong Kong stock exchange Tuesday, could be worth up to $245 million for IBM over the term of the contract.
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China&#39;s Lenovo Group is in talks with a major international IT company regarding an acquisition, it said in an announcement to the Hong Kong Stock Exchange on Tuesday.
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In a highly anticipated announcement, IBM (Quote, Chart) confirmed late Tuesday it is selling its PC division to China&#39;s Lenovo Group.
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A Chinese company has become the third largest PC seller in the world by buying IBM&#39;s personal computer business. Lenovo has bought the business for USD 1.25 billion, of which USD650m is in cash and the rest in Lenovo shares.