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HonyCapital posts

Lenovo selling off cellphone business you never heard of

by Ryan Block posted Jan 31st 2008 @ 12:12AM

Believe it or not Lenovo makes cellphones, too -- they just happen to be crappy ones you probably didn't pay much attention to since they were mostly targeted at the Chinese market. Like many before it, the company is getting out of the absurdly competitive handset market by selling its cellphone group to private equity firm Hony Capital (that's Hony, not Sony) for a cool $100m. [Warning: subscription required for read link]