Advisor.ca | Lenovo hints at RIM takeover
RIM shares rose as much as 6% yesterday on news that Lenovo might be eyeing a possible takeover of the BlackBerry maker, reports CBC News.
It adds Lenovo bought IBM’s PC unit in 2005, making it the world’s second-largest computer manufacturer.
Lenovo’s profits also rose late last year by 13% as its mobile and cloud-based businesses expanded. The company earned $162 million, or 1.6 cents per share, in the three months ended Sept. 30.
Lenovo is currently vying with Hewlett-Packard Co. to become the world’s biggest personal computer maker. However, it faces a market in which the fastest demand growth is for mobile devices.
This may explain why the company is looking at further acquisitions and opportunities to grow their mobile division, which grew more than 100% last year.
Meanwhile, RIM will likely wait to see how well its new BlackBerry 10 smartphones sell before considering any partnerships or sale of its assets, an analyst confirmed yesterday.