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Science/Tech See other Science/Tech Articles Title: Lenovo moves into internet business with smart homeware Want... Lenovo, the world's largest PC maker by shipments, plans to enter the internet sector and boost its handset business though a new online venture that will be launched in April, reports CBNweekly. The new venture, called Fancy Maker, will focus on the Internet of Things (IoT), offering products such as wearable smart devices and smart homeware that integrate with mobile phones and applications, according to the magazine. The first batch of Fancy Maker products, to be unveiled in early April in tandem with the official launch of the venture, will be basic home appliances such as smart light bulbs and power sockets, said the article. "We explored for a few months and found that IoT products were quite complicated," said Fancy Maker CEO Chen Xudong in the report. "We decided, therefore, to work first on smart homeware. We will not get into wearable devices for another two to three years." Fancy Maker, the magazine said, will consult with existing Lenovo customers during the development of its new products and will offer them these products for them to help with promotion. The same approach will be taken with Fancy Maker's development of handsets, as Lenovo seeks to catch up with China's leading smartphone maker Xiaomi, the magazine said. According to Chen, Fancy Maker's handset business will be independent of Lenovo's operations in that segment, allowing the two operations to better explore possibilities for their products. Xiaomi dominated the Chinese smartphone market in 2014 with a 13.7% share, while Lenovo was No. 4 after Apple and Huawei, according to market researcher IDC. This was partly because Lenovo previously decided to exit the handset market and focus instead on the PC segment after its acquisition of IBM's PC business, the magazine said. The PC maker returned to the handset market in 2011 and has since been pursuing rapid growth through a deal to buy Motorola Mobility. Xiaomi has built its success on online sales of its products, and this sales model has been adopted by competitors such Huawei with its online brand Honor, while Lenovo is the latest to follow, the magazine said. Meanwhile, Lenovo is expected to face competition from manufacturers of smart homeware, since Siemens and Haier recently launched online platforms to sell smart home appliances that can be controlled with mobile devices, the magazine said. Post Comment Private Reply Ignore Thread
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