HTC refutes rumors of Lenovo's acquisition, report
BEIJING, Oct 12, 2013 (Xinhua via COMTEX) --
China's leading phone maker HTC will
not sell its assets, according to a report by the Guangzhou Daily
Friday quoting an official from HTC's marketing department.
Earlier market rumors went that Lenovo Group (00992.HK; LNVGY.PK)
would take over HTC, saying the two companies began discussing a
possible acquisition deal in August, and the two companies were
expected to release negotiation results early next year.
Industrial insiders believed it was still possible for the two
companies to cooperate in some areas even though HTC would not sell
itself as a whole.
Since its introduction of mobile phone products, HTC was now in a
trough. Latest statistics show HTC incurred a net loss of 47.05
billion New Taiwan dollars (about 101 million US dollars) in the
third quarter this year, its first loss since 2002.
Lenovo Group's mobile phone business had witnessed eruptive
development, and its mobile phone shipment reached 11.2 million sets
in the second quarter of this year. That ranked it first among
Chinese mobile phone vendors. (Edited by Hou Yujie,
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