Lenovo Group Ltd. is in talks with Fujitsu Ltd. to merge their personal-computer businesses, with the Chinese manufacturer taking a majority stake in the venture, a person with knowledge of the matter said. The two sides are still discussing pricing and terms, said the person, who asked not to be identified because the talks are private. The companies are aiming to reach agreement this month, according to the Nikkei newspaper, which reported the deal earlier Thursday.
An alliance with Fujitsu would give Lenovo, the world's biggest PC maker, a bigger foundation to expand its share. Lenovo had 19.4 percent of the global PC market in 2015, compared with 2.1 percent for Fujitsu, according to IDC. Lenovo is also seeking to make further inroads into smartphones, while embarking on a plan to cut $1.35 billion from annual costs and eliminate 3,200 jobs. The company said in August that it was making progress and would turn around its business next year. Fujitsu shares rose about 7 percent to JPY 575.7 as of 10:45am in Tokyo, after climbing as much as 8.6 percent. The stock had declined 11 percent this year through Wednesday. Lenovo's shares climbed as much as 2.7 percent in Hong Kong, but remain down more than 30 percent in 2016. Japan's PC makers have been scaling back their operations or exiting the business entirely, as more people use mobile devices to check e-mail, manage their finances and access the web. Fujitsu had been struggling to find a partner, and talks with Vaio and Toshiba Corp. were on the verge of collapse, the Wall Street Journal reported in April.
The Nikkei reported that the Lenovo-Fujitsu business may merge in the future with Lenovo's PC venture with NEC Corp., which was formed in 2011. Fujitsu would move its PC planning, development, manufacturing divisions to Lenovo as part of the deal, the Nikkei said, with about 2,000 Fujitsu workers likely to be relocated to Lenovo.
Your Apple ID and password are used throughout Apple's network of services. Whic
Micromax has experimented with phones in multiple price segments, either directl
Xiaomi has expanded its smartphone line-up in India with the launch of the Mi Ma
Sony has launched its next generation Bravia smartTV in India. Bearing the model
LG G5 smartphone, which was launched in India in June this year for Rs 52,990, h
Uber Technologies Inc said on Tuesday it would partner with car-sharing service
Karnataka Bank in its pursuit to leverage technology to provide ease and conveni
Facebook will allow more content on its platform that it would have earlier remo
They show what we like, reveal who we've been with and flag where we are going.
With the PS4 Pro hitting the shelves in less than 10 days, the age of iterative