Lenovo Downplays Comments Regarding RIM Acquisition
Lenovo's comments referred to acquisitions in general.
PC manufacturer Lenovo has downplayed comments it recently made on the potential acquisition of BlackBerry creator RIM.
"We are looking at all opportunities - RIM and many others. We'll have no hesitation if the right opportunity comes along," Lenovo CFO Wong Wai Ming had said earlier. However, the firm has now said the comment was taken out of context, apparently.
"We are aware that Lenovo’s CFO [Wong] Waiming was speaking broadly about M&A strategy in a recent interview. RIM was raised as a potential target by the journalist and Mr. Wong repeatedly answered in a manner consistent with all of our previous statements on M&A strategy: Lenovo is very focused on growing its business, both organically and through M&A. When inorganic ideas arise, we explore them to see if there is a strategic fit."
RIM, meanwhile, responded to the potential acquisition by stressing that it's currently committed to launching BlackBerry 10 on January 30.
"[RIM CEO] Thorsten Heins has made it very clear that we are focused on the delivery of BlackBerry 10, which we will launch with events around the world on January 30th. As he said on our most recent results conference call on December 20th, we continue to examine all available options to “create new opportunities, focusing on areas where we will be more effective partnering rather than going it alone, and ultimately maximizing value for all stakeholders.” We do not have anything new to report on our Strategic Review at this time."
The Canadian smartphone manufacturer, which analysts believe might not be worth buying due to a decrease of subscribers, will announce the first smartphones powered by the platform on Wednesday.