Lenovo’s CEO, Yang Yuanqing, has said that the company would consider a public offering for its new smart device business, as Lenovo targets the rising interest in smart connected homes.
The new unit will be called Shenqi and is expected to start selling smartphones and internet connected household devices under its own brand in April. Yuanqing said in an interview that smartphones would be just one of the devices for the new business to sell and that Shenqi would be receive funding from Lenovo as well as from capital markets.
Lenovo first announced plans for the company last October, saying that Chen Xudong, currently president of Lenovo’s business in China, will be CEO. Liu Jun, head of Lenovo’s mobile unit, and George He, head of Lenovo’s ecosystem and cloud services group, will be co-chairmen.
