China’s Lenovo Sees RIM as a Possible Buyout
According to Lenovo CFO Wong Wai Ming, Lenovo has been looking for a new acquisition to expand its Smartphone business after the purchase of IBM in 2005. Recently the company is considering buying BlackBerry manufacturer RIM.
Lenovo has a team that specialized in assessing potential acquisition targets. They have held talks with RIM and its bank delegations on various combinations or strategic ventures.
“We’re considering RIM and other possible companies” says Wong Wai Ming, stating that they will not hesitate to take any action as long as they grasp a right opportunity which can bring huge benefits to the company as well as the shareholders.
RIM, once a pioneer in the smartphone industry, is now having some toughness. Since its market share has been gradually eaten by Apple’s iPhone and Samsung’s Galaxy series, RIM decided to take a new strategic choice, which might make it become an acquisition target.
“In a long term, we are in a declining PC marketing environment” says Hong Kong analysis Jean Louis Lafayeedney, “but once acquired, Lenovo can full y take advantage of its PC marketing influence and RIM’s experience in crafting software and hardware to develop the internet mobile business”.