Lenovo Sells Off More Real Estate as Core Business Struggles
Lenovo Group has sold a Wuhan research and development (R&D) facility to China New Town Development, the computer-maker’s latest disposal of a real estate asset this year amid lackluster earnings in its mobile phone and PC businesses.
Beijing-based Lenovo will sell 100% of its equity interest in Lenovo Mobile Communication Software (Wuhan) Ltd., a subsidiary whose main asset is the R&D facility, for 1.24 billion yuan ($187.78 million), the company said in a Hong Kong Stock Exchange filing on Tuesday.
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