|(Photo Source: China Daily)
BEIJING, Sept. 6 (Xinhua) -- Chinese computer maker Lenovo has said it will acquire Brazilian consumer electronics manufacturer CCE in order to increase its presence in the Latin American market.
Lenovo, the world's second-largest PC producer by sales, will pay 300 million reals (148 million U.S. dollars) in both cash and shares for a 100-percent stake in CCE, the company said late Wednesday.
The deal, scheduled to be completed by the first quarter of 2013, will more than double Lenovo's PC market share in Brazil, the world's third-largest PC market after China and the United States, according to Yang Yuanqing, chairman and CEO of the Lenovo Group.
The takeover will expand Lenovo's market share in Brazil from 3.6 percent to 7 percent in combination with that of CCE, whose revenues hit around 792 million U.S. dollars in 2011.
Roberto Sverner, CCE's founder and CEO, said the acquisition will make CCE's products more competitive and help increase the company's presence.
Lenovo and CCE's brands, as well as CCE's operations, will remain unchanged after the takeover, according to Lenovo.
Lenovo eyeing to become second leading mobile brand in Philippines
MANILA, Aug. 14 (Xinhua) -- Lenovo Mobile Communication Technology Ltd. ("Lenovo Mobile"), one of China's biggest mobile handset manufacturers, is seeking to become the second leading brand in the Philippine handset market.
As the smartphone market in the Philippines increases dramatically, Lenovo's distributor, Open Communications, is " committed to offer more affordable, cutting-edge devices, superior customer service and relevant value-added services to Filipinos," John Rojo, Open Communications' Business Unit Head, said in a statement Tuesday. Full story
Lenovo unveils new generation laptops
NEW YORK, Aug. 8 (Xinhua) -- Chinese PC giant Lenovo unveiled a new generation of light-weight ThinkPads Wednesday at the Museum of Modern Art in New York.
In an event to celebrate its 20th anniversary since founding, Lenovo, the world's second largest PC vendor, showcased the ThinkPad X 1 Carbon, which weighs less than three pounds. Full story