Consumer China

Lenovo Mobile - targeting the young middle class

  • Published 29 Jul 2010

The newly re-purchased unit of Hong Kong-listed Lenovo Group is hoping its new smartphone will remain a big hit with the young middle class.

Background:Lenovo Mobile has been at the centre of game of pass the parcel by its parent Lenovo Group (0992:HKG) in recent years. Originally established by the group in 2002, it was then sold to Hony Capital, the private equity arm under Lenovo Holdings, in 2008 for $100m (Rmb 678m, €77.0m, £64.6m). However, by 2009 the group decided it wanted it back and paid the premium of $200m for the mobile unit early this year.

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