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Lenovo buy back Lenovo Mobile

Lenovo buy back Lenovo Mobile

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Lenovo announced at the weekend that they are buying back Lenovo Mobile Communication Technology for $200 million. They originally sold their mobile business in March 2008 for $100 million, so the buy back comes at a substantial cost – around $5 million a month since the sell. This is costing Lenovo $154 million in cash with the other $46 million being paid in 80.89 million consideration shares.

Lenovo have stated that the mobile internet sector will be a very lucrative business for them in the coming years and possibly a key growth point, just a shame they learned this only recently and have lost considerable money for their initial mistake.

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Stuart Davidson

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