Lenovo plans $500m start-up fund

Lenovo is planning to invest $500 million in a technology-start -up fund, an official of the company has said. The China based tech giant will invest in areas such as artificial intelligence, robotics, IoT and cloud computing, Reuters said, citing executive He Zhiqiang, who will oversee the unit. Lenovo has spent a number of years […]

Lenovo is planning to invest $500 million in a technology-start -up fund, an official of the company has said.
The China based tech giant will invest in areas such as artificial intelligence, robotics, IoT and cloud computing, Reuters said, citing executive He Zhiqiang, who will oversee the unit.
Lenovo has spent a number of years transforming its business to take advantage of opportunities in mobile and enterprise, as its core Personal Computer business struggled against a general slowdown in this sector – but these markets are also not without challenges.
Recent market reports show that Lenovo has slipped out of the top five global smartphone makers, even after its acquisition of Motorola Mobility.
By getting involved in new technologies early, it will be able to access potential future commercial opportunities. And this also includes investing in companies beyond its home market (China), enabling it to maintain its geographic diversity.
China Daily reported that Yang Yuanqinq, CEO of Lenovo, had said there is no limit on the size of its investments, as long as start-ups “fit with Lenovo’s broad strategies and really boost cutting-edge techs”.