Lenovo’s fund seeks new growth
Print Edition
LENOVO Group Ltd will create a new investment fund of US$500 million to seek out new business growth engines as the company is facing a slump in the PC industry.
The world’s biggest personal-computer maker will use the fund to focus on new technologies in sectors such as cloud computing, Big Data, artificial intelligence, robot and Internet Plus, said He Zhiqiang, Lenovo’s senior vice president and chief technology officer, who leads the investment business.
Lenovo will help startups in industrial and system design, distribution channel and human resources as well as offer financial support, He said yesterday. Lenovo will also tap the fund to invest in the United States and Israel.
Lenovo has an over 20 percent share of the global PC market but it faces an industry slump as PC sales worldwide are falling, said US-based IDC.
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