Lenovo's Coming Plan to Take Over RIM To Redefine Smartphone Business

By: Gizbot Bureau

Speculations are high surrounding the Chinese firm, Lenovo's plans to join hands with Research in Motion to boost smartphone business. The company's Chief Financial Officer, however, said that the company is keen on adopting ways to enhance its position in the mobile market.

The officer in an interview to Bloomberg at the World Economic Forum revealed the company's plan of RIM acquisition. He also said, the company is considering the option to head off competition in the smartphone markets which had been affecting its PC businesses lately. It is also seen that the company is also looking out for options other than RIM.

Lenovo's Coming Plan to Take Over RIM To Redefine Smartphone Business

The Chief Financial Officer, however, made no point about the proposed deal but hinted that talks were on with RIM officials regarding a strategic venture. His talk also conveyed that valuation of a deal is superior to Lenovo and also observed the double digit stock price of RIM.

RIM's stock prices are soaring high following its announcement on the launch of Blackberry10 platform this month end. It is to be noted that RIM was bombarded from the Nasdaq-100 for poor performance.

Lenovo's smartphones, on the other hand are doing well in the market but outside China Lenovo is known more for PCs. Acquiring a company like RIM would be the best option for Lenovo to flourish in its smartphone business in the West which presently is completely dominated by Samsung and Apple.

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