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Lenovo in the hunt for BlackBerry? Shares jump on reports of a possible deal

by David Needle

March 11 2013

Photo: BlackBerry headquarters. Could the Canadian smartphone maker become part of Lenovo?
Photo: BlackBerry headquarters. Could the Canadian smartphone maker become part of Lenovo?

Lenovo is considering a purchase of beleaguered smartphone maker BlackBerry according to reports. The move would significantly expand Lenovo’s product line with BlackBerry smartphones and entree to corporate accounts.

Whether such a deal would breathe new life or mean the end of the BlackBerry Playbook tablet, since Lenovo has a full line of tablets already, is unclear.

News of the possible buyout surfaced after Lenovo Group’s CEO was reported in a French financial newspaper as saying his company might consider buying BlackBerry.

Lenovo’s Yang Yuanqing told Les Echos that a deal with Waterloo, Ontario-based BlackBerry “could possibly make sense, but first I need to analyze the market and understand what exactly the importance of this company is,” according to a report by Bloomberg News.

Back in January, Lenovo’s CFO Wong Wai Ming, also told Bloomberg that the company was “looking at all opportunities,” including BlackBerry.

BlackBerry shares were up nearly 14% to $14.87 before the market close on Monday.

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