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Lenovo Turns to Phones With Novel Technology for Growth


Lenovo Group Ltd. is adding experimental technologies to its smartphones in a bid to grow its business, trying to overcome declining personal computer shipments and a competitive mobile market.
The Beijing-based company said Thursday it will introduce a phone that uses a Google sensory technology named Tango, and announced two new Motorola handsets that can be augmented with additional equipment via 16 “magic dots” in their backs. At an event in San Francisco, the company also announced a partnership with networking vendor Juniper Networks to extend its data center unit.
“Over the past two years Lenovo has been transforming, making major acquisitions in mobile and infrastructure to expand beyond our core PC business,” said Yuanqing Yang, the company’s chairman and chief executive officer. “I was told we’d better launch something pretty exciting.”
Lenovo is looking to phones for growth to offset a struggling PC market. Lenovo was the largest single vendor of PC shipments in the first quarter of 2016, according to IDC, but shipments declined 8.5 percent on a year earlier. The company acquired the Motorola smartphone business for $2.8 billion in 2014 to help it hedge against this weakness, but turning those phones into major sales has proven to be a challenge.
Competitive Market
Lenovo faces an uphill battle trying to regain its share of the mobile phone market against renewed competition from local rivals like Huawei Technologies Co. Its smartphone sales in China fell 85 percent compared to a year earlier, Jenny Lai, an analyst at HSBC, wrote in a note to clients following Lenovo’s fourth-quarter results in May. Lenovo reported a full-year loss of $128 million compared with net income of $829 million a year earlier.
“Lenovo will step up its mobile investments in order to achieve targets,” she said. “Financial year 2017 will be a transitional year for Lenovo with flat shipments and continued operating losses in mobile business.”

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Source: http://www.bloomberg.com/news/articles/2016-06-09/lenovo-turns-to-phones-with-novel-technology-for-growth

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