Market Overview

Lenovo Group Plans To Expand Into West Africa

Lenovo officially announced on Monday that the personal computer giant plans to expand into new territories, most notably West Africa. Bloomberg reported that these territories include Ghana and Ivory Coast in the latter part of 2014.

Lenovo's shares are down 8.6 percent year-to-date, but were up approximately 2.4 percent after Monday's close (Hong Kong time).

Africa has been the focus of a horde of attention lately, as the majority of countries in Africa are emerging, leaving endless expansionary possibilities for technology companies.

Most notably, Lenovo is banking on Nigeria.

Lenovo's general Manager for Africa, Graham Braum, released this information on February 4, and has also included plans to start selling phones that included cellular data.

In an interview with Bloomberg, Braum said, “We have a road map in 2014 to move into countries like Ghana and Ivory Coast and in order to do that we are doing a lot of investigation in the background.” This again shows that Lenovo is very eager to expand into new territories, which will grow its market share not only in Nigeria, but also in those countries that neighbor it.

Posted-In: Bloomberg Gram Braum LenovoNews Global Econ #s

 

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