May. 7, 2012 (China Knowledge) - Lenovo Group Ltd<0992
>, the world's second-largest PC maker, said today that it plans to invest a total of RMB 5 billion to set up an industry base for mobile products in Wuhan
, the capital of Hubei
The company said in a statement that the industry base will be mainly engaged in the research and development, and production of smart phones, tablet PCs as well as other mobile devices.
The base, which is expected to start operation in October 2013, will generate revenue of RMB 10 billion in 2014.
The establishment of the mobile industry base will help the Chinese PC maker to expand into sectors outside its core computer business.
Founder and former Chairman Liu Chuanzhi said last month that the company plans to invest RMB 16 billion in Wuhan
in the next three years, according to an earlier report from China Knowledge.