Lenovo to Pay $200M to Buy Its Phone Unit Back
Nov 27, 2009, 9:33 AM by Eric M. Zeman
Today PC-maker Lenovo announced that it will spend about $200 million to repurchase the mobile phone unit it sold to investors last year. Lenovo sold the mobile phone business in 2008 for about $100 million. It isn't clear what those private investors have done with the company in the last year. Lenovo believes that mobile devices will play an increasingly important role in computing, and thinks that by reacquiring the mobile phone business, it can bolster its existing PC business and provide for new opportunities in its home market of China and around the world.
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