The PC market is facing huge downturns in sales as tablet computers and smartphones continue to eat into the market share. This has led companies like Chinese PC giant Lenovo Group to look into ways that will help it diversify out of the PC sector.
According to Chief Financial Officer Wong Wai Ming who spoke to reporters at the World Economic Forum’s conference in Davos, Lenovo is looking for strategic alliances and acquisitions to move away from the declining PC market and into the profitable smartphone business.
The smartphone maker, Lenovo is currently eyeing is none other than Canadian firm, Research In Motion, maker of the famous BlackBerry line of smartphones. BlackBerry is currently facing increasing loss of market share due to stiff competition from the Apple iPhone and Samsung’s Galaxy line.
A special team at Lenovo is currently conducting a study into possible acquisitions with RIM forming a big part of the Chinese technology giant to enter the lucrative smartphone market.
Speaking about the company’s plans Wong said:
“We are looking at all opportunities — RIM and many others. We’ll have no hesitation if the right opportunity comes along that could benefit us and shareholders.”
Jean-Louis Lafayeedney, an analyst at JI Asia in Hong Kong also said:
“Long term, we are in a declining PC market. [Lenovo] can leverage the scale they have in PCs to develop the mobile Internet side of the business.”
RIM is currently in the final stages of preparations for the launch of its new BlackBerry 10 line of smartphones with the company’s share price rising due to the expectations that the new smartphones will become a success amongst consumers.
Source: Financial Post
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