Lenovo is looking to boost global expansion of its fledgling smartphone business through a joint venture, as the Chinese technology group continues to pursue growth through a string of deals.
“The board would like to inform the shareholders of the company and potential investors that the company is in preliminary negotiations with a party in connection with a potential joint venture transaction,” Lenovo said in a statement to the Hong Kong Stock Exchange.
The statement came after Japanese media reported the Chinese company was preparing to establish a smartphone joint venture with NEC, the Japanese company with which it already co-operates in PCs. A source close to Lenovo said the potential partner was indeed NEC. NEC declined to comment.
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