May 7, 2012
Lenovo Opening New Mobile Facility In Wuhan
Lenovo announced on Monday that it will be putting $800 million into a new mobile facility aimed at investigating and producing innovative smartphones, tablets and other devices.
The company said the new facility will help drive Lenovo's innovation capability in the field of mobile Internet, and optimize its global supply chain.
“As an industry leader, we are aggressively moving forward into the PC Plus era, and with our Mobile Internet Digital Home group actively engaged, we are accelerating development in smart phones, tablets, and other mobile Internet terminal markets," Yang Yuanqing, Lenovo Group chairman and CEO, said.
"We´re determined to firmly seize the tremendous opportunities for innovation in this market, so that Lenovo's customers have even more opportunities to own our award-winning products, from PCs to mobile Internet devices."
The company will focus on R&D, production and sales of the devices, which will cover the Chinese and global markets.
The new facility has the potential to create nearly 10,000 job opportunities in the coming years as well, according to the company.
Lenovo became the world's second-largest PC maker at the end of 2011, and has been the world's fastest growing PC maker for nine consecutive quarters.
The company is now a top-three smartphone maker in China, and holds second-place in the tablet market with a market share of 16.5 percent.
“When it begins operations, the Lenovo (Wuhan) Industrial Base will greatly improve our innovative capability and further optimize our supply chain, giving us a solid foundation to win in a broader market," Yuanqing said.
Lenovo said it is anticipating total sales revenue from the new industrial facility to reach $1.58 billion by 2014. It also said that it expects to generate $7.9 billion in revenue from the facility between 2014 and 2019.
The new facility's ground was broken on Monday at a ceremony, and it is set to open in October 2013.