Lenovo Group has agreed to buy a majority stake in Fujitsu Ltd’s personal computer unit for up to $269 million, in a bid to corner a larger share of a market that is battling weak sales as more people switch to mobile devices.
Having lost the world’s largest PC maker crown to HP Inc this year, Lenovo has been looking for ways strengthen its core business.
“PC is still core of Lenovo. It is still a very decent market ... commercial customers will still use PC,” Lenovo Chairman and CEO Yang Yuanqing said.
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