Lenovo’s 5G expansion dispels concern over Motorola sale
29 September, 2018
Chinese multinational Lenovo recently released the world’s first 5G Ready mobile phone Moto z3, and is now moving to be among the first batch of phone makers to offer a 5G experience for mobile users, The Paper reported.
The Moto z3 can be turned into a mobile phone that receives 5G signals by accessing the 5G hotspot module, which is called Lenovo 5G Pass.
According to Yang Yuanqing, chairman and CEO of the Group, Lenovo 5G Pass will be introduced to the market in early 2019.
The 5G expansion has lowered the market’s expectations for Lenovo to sell its Motorola sector. Yang said in an interview in Beijing on Wednesday that reporting about Lenovo’s intention to sell the business to overseas companies is “purely a rumour.”
The company acquired the Motorola mobile phone business from Google in a US$2.9 billion deal in 2014.
However, not only the sales volume of Motorola has fallen sharply, but the business remains at a loss, which has dragged down Lenovo’s overall financial performance.