AfterDawn: Tech news

Lenovo will sell off its mobile phone business

Written by Andre Yoskowitz @ 06 Apr 2008 3:28 User comments (2)

Lenovo will sell off its mobile phone business The Lenovo Group has announced the completion of the sale of its mobile phone handset division to a group of investors. The sale, which was originally announced last week, was finally completed today and marks the end of Lenovo's try in the mobile phone business.
The company, which specializes in desktop and notebook PCs, decided their mobile phone business was a failure and was distracting from the company's core businesses. The deal has been valued at $100 million USD and was approved by shareholders on March 17.

Lenovo's phones were sold mainly in Asia and accounted for $108 million USD in revenue during the quarter ended on Dec. 31, 2007. That small figure only accounted for 2.4 percent of the company's total sales during that Period and the total shipments declined by over 30 percent year over year.





Previous Next  

2 user comments

16.4.2008 17:12

That should read "Lenovo will sell off its mobile phone business". shouldn't it?

26.4.2008 17:21

Yes ;-)

Comments have been disabled for this article.

Latest news

Roomba Combo j7+ review - Clever trick allows robot vacuum finally to tackle home with rugs and carpets Roomba Combo j7+ review - Clever trick allows robot vacuum finally to tackle home with rugs and carpets (06 Jun 2023 9:19)
Roomba Combo j7+ is the very first Roomba model to combine robot vacuum with mopping features. And Roomba Combo j7+ does all that with a very clever trick, which tackles the problem with mopping and carpets. But is it any good? We found out.
Neato, the robot vacuum company, ends its operations Neato, the robot vacuum company, ends its operations (02 May 2023 3:38)
Neato Robotics has ceased its operations. American robot vacuum pioneer founded in 2005 has finally called it quits and company will cease its operations and sales. Only a skeleton crew will remain who will keep the servers running until 2028.
5 user comments
How to Send Messages to Yourself on WhatsApp How to Send Messages to Yourself on WhatsApp (20 Mar 2023 1:25)
The world's most popular messaging platform, Meta-owned WhatsApp has enabled sending messages to yourself. While at first, this might seem like an odd feature, it can be very useful in a lot of situations. ....
18 user comments
How to Enable Bluetooth on Stadia Controller How to Enable Bluetooth on Stadia Controller (11 Feb 2023 1:04)
Google shut down its streaming game service Stadia late last month and this means that some people have Stadia controllers lying around that seem to be of no use. That is fortunately not the ....
2 user comments
Guide: How to Kick Unwanted Guests from Your Netflix Account Guide: How to Kick Unwanted Guests from Your Netflix Account (26 Jan 2023 2:14)
Sharing a Netflix account with a person in a different location is possible and indeed very common, although the company doesn't necessarily enjoy this behavior from their customers. However, ....

News archive