Lenovo seeks acquisitions
Lenovo said it will consider acquisitions to drive growth and build competence as the world's second-largest personal computer maker expands in new areas such as mobile devices.
"We would fully leverage this tool if the target is consistent with our strategy," chief executive officer Yang Yuanqing said in a telephone interview from Beijing.
"Any area which is consistent with our strategy where we are weak, we would like to consider acquisitions."
As Lenovo gets closer to its goal of passing market leader Hewlett-Packard in global computer shipments, Mr Yang is looking at ways to sustain the fastest annual pace in sales growth in six years.
The company, which overtook Apple in the three months through June for second place in smartphone sales in China, will introduce 40 models of phones in the year started April 1, Mr Yang said.
"The mobile business, tablets and smartphones, is crucial for its long-term outlook, given the slowdown of global PC demand," said Vincent Chen, an analyst at Yuanta Securities in Taipei.
Shares of Lenovo jumped as much as 3.5 per cent in Hong Kong trading and traded up 3.3 per cent at HK$6.51 as of 11.55am, poised for their biggest gain since August 17.
The shares have gained 26 per cent this year, compared with a 6.2 per cent advance in the Hang Seng Index.