Home Sign in Research report Data Center Industry News Custom Research About us
Research report:                          Automotive  |  Electronics  |  Mechanical&Automation  |  New Energy  |  Medical  |  Advanced Materials  |  Building Products  |  Transportation  |  Communication  |  Chemical  |  Finance  |  IT Industry  |  Food  |  Home Appliances  |  Forestry  |  Agriculture  |  Textile  |  Culture Industry  |  Consumer goods  |  Others  |
 Home > Industry News > IT Industry > Text
Lenovo intends to acquire Medion AG
Author:Sino-report    Source:China Daily    Number of clicks :     Update time:2011-06-02 10:57
Sino-report News Center Jun 2011

BEIJING - Lenovo Group Ltd, China's largest PC maker by market share, announced on Wednesday that it intends to double its market share in Germany by acquiring Medion AG, a multimedia and consumer electronics maker.
Medion is one of the top 5 vendors in Germany. Lenovo estimated that after the acquisition, it will be the third-largest PC company in Germany, Europe's largest PC market. It will have more than 14 percent of the German and 7.5 percent of the Western European PC market.
"This agreement represents another bold move in Lenovo's realization of its long-term strategy. It will complement both its core PC business and new businesses, which are key areas for development," said Yang Yuanqing, the company's chief executive officer.
The Chinese PC maker said it hopes that the deal will be completed in August and that it will acquire 50 to 75 percent of the German company's stock.
This agreement is part of Lenovo's worldwide expansion in consumer PCs and the high-growth mobile Internet market by acquisitions. It acquired IBM Corp's personal computer sector in 2004, after achieving sales revenue of $3 billion in 2003 - IBM had $9 billion in sales revenue at that time. After acquiring IBM, Lenovo held 8 percent of the global PC market in 2004, according to the research company, IDC.
In January, Lenovo announced that it had invested $175 million in a joint venture with the Japanese PC maker NEC Corp to expand in the Japanese market. After the purchase, the two held about 26 percent of Japan's PC market.
Last year, Medion had $2.29 billion in sales revenue while Lenovo had $21 billion, almost seven times the figure when it took over IBM.
Lenovo has been trying to increase its presence in Europe, according to Kitty Fok, vice-president of IDC Asia-Pacific. "Lenovo was previously trying to acquire the Western European PC maker Packard Bell, but it ended up being bought by Acer Inc," she told China Daily.
Lenovo was ranked the fourth-largest PC company and held a 9.9 percent market share worldwide in the first quarter of 2011, according to IDC.


Order Online
Contact Us
Tel: 400-988-9999
Phone :+8615313587056
Online Consultation
Skype: Please Please
Latest Reports
[IT Industry] Online sales bringing world of opportunity
[IT Industry] Public cloud services help SMEs boost infrastructure automation
[IT Industry] China's social e-commerce to reach $170b in 2018
[IT Industry] Xiaomi pushes AI plans in Optics Valley
[IT Industry] Chinese researchers develop AI technology for screening diabetic retinopathy
[IT Industry] Huawei techno truck shows off 5G hardware
[IT Industry] Xi calls for international cooperation on big data industry
Popular reports
China's social e-commerce to reach $170b in 2018
Xiaomi pushes AI plans in Optics Valley
Industry Data
China opens market to Kenya's agricultural products
China's publishing industry booming over past 40 years
Industrial Production Operation in July 2018
Total Retail Sales of Consumer Goods in July 2018
National Real Estate Development and Sales in the First Seven Months of 2018
NSDP/SDDS for the People's Republic of China
Market Price of Important Means of Production in Circulation, July 01-10, 2018
In the first five months of 2018, the profits made by industrial enterprises above the designated siz
Purchasing Managers Index for June 2018
Market Price of Important Means of Production in Circulation, June 21-30, 2018
In global EV battery shipments during Jan - Apr 2018, LG Chem and Samsung SDI ranked 4th and 6th
Based on Jan - Apr shipment record, Kia Motors Remain on Top 10 in Global PHEV Power Brands Ranking
Consumer Prices for May 2018
Producer Prices for the Industrial Sector for May 2018
Industrial Production Operation in May 2018
Investment in Fixed Assets for the First Five Months of 2018
National Real Estate Development and Sales in the First Five months of 2018
Producer Prices for the Industrial Sector for April 2018
Stable Performance for the National Economy in April
Total Retail Sales of Consumer Goods in April 2018
Industrial Production Operation in April 2018
National Real Estate Development and Sales in the First four months of 2018
Sales Prices of Residential Buildings in 70 Medium and Large-sized Cities in April 2018
Industrial Profits Increased in the First Four Months of 2018
Industry News
Iron and steel sector gains strength
China’s wines take center stage
Machinery manufacturing fair boosts Sino-Russian ties
Medical device manufacturers display their latest technology
Soybean farmers store crops amid hopes of higher prices
Tourism industry opening on agenda
Tech competition eases startups' access to China market
China's excavator sales grow 44.9% in October
China's solid waste imports continue to slump on tightened ban
Delivery orders jump 25.12% to 1.35b on Singles Day
Related Links

Sitemap       |       Join Us      |       Customer Service       |       About Sino-report
Copyright © 2011-2025 Sino-report Consult Inc.
No.18 Zhichun Road, Haidian District. Beijing 100089.China
Information and data contained in this site is for reference only pursuant to operate your own risk