Lenovo takes control of Fujitsu PC business

Chinese vendor buys 51 per cent on Fujitsu's PC business, forming joint venture

Lenovo has acquired a 51 per cent stake in Fujitsu's PC business for a fee of at least $157m (£119.5m).

The deal, first mooted in October last year, sees Lenovo take control of Fujitsu Client Computing Limited - which Fujitsu span out of its main business at the start of last year in preparation for a sale. The fee could rise depending on the future performance of the business.

As part of the restructuring of the business, a joint venture will be formed between Lenovo, Fujitsu and Development Bank of Japan - which has taken a five per cent stake.

The business will continue to operate under the Fujitsu brand.

Lenovo announced the deal simultaneously with its quarterly results, which saw revenue rise five per cent year on year to $11.8bn.

The PCs and devices business saw a year-on-year revenue increase of seven per cent to $8.4bn.

Lenovo's datacentre and mobile businesses both reported slight revenue growth.

According to Gartner, HP and Lenovo are neck and neck for the title of the world's largest PC manufacturer, with HP thought to be slightly ahead.

In Q3 this year Gartner predicts that HP shipped 14.59m PCs, giving it a market share of 21.8 per cent, while Lenovo is thought to have shipped 14.34m units, giving it a market share of 21.4 per cent.