Lenovo and NEC join forces

Two major computer manufacturers – Lenovo and NEC – are starting up a joint venture in Japan to become the country’s biggest “PC group”.

The new initiative will be called called NEC Lenova Japan Group, Chinese firm Lenovo will have a 51 per cent stake in it and Japan’s NEC will have 49 per cent.

However, NEC is likely to receive around £110 million Lenovo shares and Lenova will get a foothold in the lucrative Japanese market.

NEC’s president of personal products Hideyo Takasu will act as president and chief executive of the venture.

The current president of Lenovo Japan Roderick Lappin will be the executive chairman.

It seems the deal could be the start of a far-reaching relationship between the two companies with both stating they may jointly develop new devices including tablets.

The deal, which will also see the two companies keep their separate brands, is likely to be signed by the end of June.

View the original article here