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Lenovo to invest RMB 16 bln in Wuhan: Founder

Apr. 23, 2012 (China Knowledge) - Lenovo Group Ltd<0992>, a leading Chinese PC maker, plans to invest RMB 16 billion into Wuhan, capital of Hubei Province, in the next three years, said Founder and former Chairman Liu Chuanzhi.

As part of the plans, a production base and R&D center will be built in the city with an investment of US$320 million and RMB 5 billion, of which RMB 6 billion had been spent at the end of last year.

No more details about the RMB 16 billion plans have been disclosed.

In the first quarter of 2012, Lenovo ranked second with global PC shipments of 11.63 million, reflecting a year-on-year increase of 28.1% from 9.08 million. U.S.-based Hewlett-Packard Co, or HP, dominated the market with 15.31 million in PC shipments.

Lenovo's global market share for the first quarter 2012 stood at 13.1%, more than 10.4% it realized in the same period of 2011, according statistics released by a research company.

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