Lenovo in talks for phone deal

City A.M. Reporter
LENOVO, the Chinese PC maker, is in detailed discussions on a smartphone venture with NEC, a Japanese partner in PCs whose mobile business is faltering, as it eyes partnerships and acquisitions to expand in high-growth markets.

Lenovo has been aggressively forging deals over the past eight years to gain prominence in PCs, and that strategy is now shifting to smartphones, tablets and enterprise computing.

Lenovo executives met yesterday with investors in Singapore to drum up interest in a bond issue that investors say could raise $500m or more and help to fund a renewed acquisition drive.