Sold it for $100 million last year
Lenovo announced Friday it would buy back Lenovo Mobile Communication Technology for $200 million.
Lenovo originally sold its mobile business in March 2008 for $100
million, so Lenovo basically lost about $5 million each month since the
sale. The move will cost Lenovo $154 million in cash, while the
remaining $46 million will be paid in 80.89 million consideration
shares.
Lenovo claims mobile internet will become an important strategic
business in the future and become a key growth point for the company.
We are not sure why they failed realize this fact a year and a half ago
and save themselves $100 million.
