How to Lose a Hundred Million Dollars… Like Lenovo
Lenovo might make some pretty good PCs, but they’re not that good when it comes to business. As you might already know, they recently bought back their mobile phone making unit for twice the price they sold it for in 2008. The lucky folks getting the cash are the Hony Group, making a million dollars a week for the last two years.
Lenovo sold their mobile division back in 2008 for a hundred million dollars and reclaimed it recently for twice the cost. The reason for said acquisition is “the changed market conditions over the past 18 months”, but this is still bad business, if you ask me.
Will they ever release a phone in Europe or the US?