Lenovo to Pay $200M to Buy Its Phone Unit Back
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.
The American way
Sell low. buy high
Except its a Chinese Corporation.
My math Might not add up, but they sold it for 100 million......... and buying it back for 200 million..... im pretty sure it didnt take 100 million to run that part of lenovo's company to progress during the year...s
Sell it for less! Buy it for more!