Lenovo looking at mobile acquisitions to drive growth

As Lenovo expands into new areas such as mobile, they say that they are considering acquisitions to drive the growth of the company.

Chief Executive Officer Yang Yuanqing said in a telephone interview with Bloomberg: "We would fully leverage this tool if the target is consistent with our strategy, any area which is consistent with our strategy where we are weak, we would like to consider acquisitions."

Lenovo is inching closer to its goal of passing HP as market leader, so the company is looking at ways that it can sustain and improve the growth, hoping to achieve the fastest annual pace in sales growth in six years. Lenovo even overtook Apple for a three month period this year to become second place in smartphone sales in China.

Lenovo will widen offerings, boosting the development of tablets, Internet-ready televisions, and smartphones, of which 40 new models of phones will be released according to Yang. The company also expects to see a boost from Windows 8; last month, the company unveiled its first tablet and all-in-one PCs that will run Microsoft's new operating system.

Yang declined to comment on any potential acquisitions. 

Source: Bloomberg

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