Lenovo says business will focus on mobile Internet and emerging economies
Lenovo Group expects wireless Internet products to account for up to 80 percent of its sales within five years as it pursues expansion in faster-growing emerging markets, CEO Yang Yuanqing said Friday.
Lenovo, the world's fourth-largest personal computer maker, jumped into the mobile Internet market in January with the unveiling of a smart phone and two Web-linked portable computers.
"Mobile Internet is very important," Yang said in an interview. "Even today, notebook sales already are higher than desktops. Mobile Internet products are going to be 70 to 80 percent of our sales … within three to five years."
Yang said Lenovo plans this year to focus on promoting mobile Internet and sales in emerging economies in Asia, Latin America and Eastern Europe.
Lenovo, based in Beijing and Morrisville, North Carolina, was hit hard by the global crisis, which prompted its core corporate customers to slash spending. It suffered three losing quarters before rebounding to a profit in the second half of last year.
Lenovo, which acquired IBM Corp.'s PC unit in 2005, says its global market share last year rose to 9 percent, its highest level to date.
Yang said Lenovo has no plans for foreign acquisitions but is ready to look at any deals that fit its strategic plans.
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