Lenovo and NEC PC Joint Venture announced in Japan
Announced back in January, the Lenovo and NEC joint venture has come true as “NEC Lenovo Japan”, the partnership is expected to make the NEC Lenovo Japan group as the largest PC provider in the country. In the joint venture Lenovo holds a 51% stake in (NEC holds the rest of the shares). The joint venture is limited to the Japanese PC market at this point, but NEC Lenovo instantly gained the bragging rights to call itself the country’s biggest PC maker (about 25% market share).
According to reports, the the venture will have 25% of the Japanese computer market. The venture will also have a very strong corporate and business sales volume. The transaction landed NEC $175 million through an issue of shares in Lenovo. The Join Venture may also enable the companies to perform well in the market.
NEC president Takasu says the two companies “will continue to discuss and assess new opportunities with this global partnership”, while Lenovo CEO Yuanqing is “determined to expand this strategic alliance beyond the PC business”.