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Lenovo to buy back Lenovo Mobile for $200 million |
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Written by Fudzilla staff
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Monday, 30 November 2009 10:51 |
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Sold it for $100 million last year
Lenovo announced Friday it would buy back Lenovo Mobile Communication Technology for $200 million.
Lenovo originally sold its mobile business in March 2008 for $100
million, so Lenovo basically lost about $5 million each month since the
sale. The move will cost Lenovo $154 million in cash, while the
remaining $46 million will be paid in 80.89 million consideration
shares.
Lenovo claims mobile internet will become an important strategic
business in the future and become a key growth point for the company.
We are not sure why they failed realize this fact a year and a half ago
and save themselves $100 million.
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Mobiles 