Lenovo looks for acquisitions in new mobile internet unit

Lenovo has announced that it will be introducing a business group which will be dedicated to mobile internet and “digital home devices.”

The unit, originally named the Mobile Internet and Home Business Group, will make tablets, smart phones, as well as those that support smart TV and cloud computing.

Together with other PC makers, Lenovo Group has introduced its mobile devices to increase profit margins. It released its smart phone, the LePhone in May 2010, and released its first tablet PC, the LePad, earlier this month. 

Rory Read, chief operating officer, claims the group will be looking at acquisitions to build on its mobile internet business,

He adds that the mobile internet business will increase Lenovo Group’s profit margin in the next three to five years.

Liu Jun has been named as the president of the new business unit.