Two Asian tech giants are partnering to develop new products for the global computer market, according to a press release by Lenovo.
Chinese tech company Lenovo Group Limited announced Thursday, Nov. 2, it has entered a strategic collaboration with Fujitsu Limited and the Development Bank of Japan.
The joint venture between the three companies will focus on the research, development, design, manufacturing and sales of Client Computing Devices for the global PC market.
Products developed by the joint venture, called Fujitsu Client Computing Limited, will be sold under the Fujitsu brand name.
Fujitsu and Lenovo aim to drive growth, scale and competitiveness in the PC businesses both in Japan and worldwide by leverageing Fujitsu's capabilities in global sales, customer support, research and development, manufacturing, and systems integration with Lenovo's global scale and presence.
As part of the venture, Fujitsu will sell a 51 percent stake in its wholly owned subsidiary FCCL to Lenovo and a 5 percent stake to DBJ.
After the transaction is complete in the first quarter of 2018, FCCL will become a joint venture company owned by Fujitsu, Lenovo and DBJ and will continue to be known as Fujitsu Client Computing Limited. The new venture will have an estimated value of ¥28 billion Japanese ($1.9 billion US).
Not to be confused with Fuji Film, Fujitsu is the third oldest technology company in the world behind IMB and General Electric. It is Japan's leading information and communication technology company offering a full range of technology products like servers, mobile phones, cloud computing, and microprocessers, along with IT solutions and services.
Lenovo is a $43 billion global Fortune 500 company and a leader in providing innovative consumer, commercial, and data center technology. The Chinese company's portfolio of products and services includes PCs, workstations, servers, storage, networking, software, smart TVs and a family of mobile products like smartphones, tablets and apps.
The Development Bank of Japan is a wholly Japanese government-owned financial institution headquartered in Tokyo, Japan.
Michelle Willard, Editor of Renderosity Magazine | Former newspaper reporter. Recovering archaeologist. Political nerd. True crime junkie. Read her articles here