Lenovo is one of the biggest PC vendors on the planet and the company is taking steps to ensure that it claims the throne. Lenovo has reported its biggest quarterly rise in revenue since 2015 and it has also revealed that it’s acquiring a controlling stake in Fujitsu’s PC business. It’s spending a significant amount of money to purchase a controlling stake in the division.
Fujitsu spun off its PC division over two years ago as it wanted to separate parts of the company that weren’t making money from those that were. The PC division has now sold a 51 percent stake to Chinese tech giant Lenovo for $157 million in cash.
The terms of the deal also include cash infusions of $22 million and $112 million on top of the $157 million until 2020, but they’re going to be based on performance. Lenovo seems to have viewed this as an opportunity to further expand its PC business. The company is best known for its computers after all.
This move may help Lenovo claim the throne from HP. Lenovo lost its title of the biggest PC maker in the world to HP earlier this year. HP’s fortunes improved due to stellar performance in North America.
Lenovo is certainly going to leverage this deal to try and claim the title of the biggest PC maker in the world from HP.
Filed in . Read more about Fujitsu and Lenovo. Source: reuters