Lenovo wants to be the world's largest smartphone maker--a position currently held by Samsung. Lenovo is already the world's biggest PC maker and the new leader in smartphone sales in China--a huge market. Lenovo CEO Yang Yuanqing says that Lenovo's leadership position in China isn't very profitable, though, telling the Wall Street Journal, "Our smartphone business in China makes a little bit of money, but not so much." It's highly competitive with slim margins.
But Lenovo still sees a big future for smartphones not in the Apple iPhone-type models for the elite, but in servicing the broader market with less expensive phones. It's the same strategy that has earned Lenovo the #1 spot among PC makers. Last quarter Lenovo smartphone shipments to Southeast Asia increased 300% with Eastern Europe shipments growing 500%, according to the WSJ.
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