Lenovo is a Japanese company
NEC: Another withdrawal from the Japanese PC business
The retreat continues. At one time, NEC was one of the big names in the PC market, in Europe it was last active in this area in 2006 in the form of PC manufacturer Packard Bell, which was finally taken over by Acer in 2008. In this country, NEC is likely to have retained its popularity primarily through its professional PC monitors. In the home market of Japan, however, NEC is still active in the PC sector, after all, it is a very well-known and established brand here. However, here too they had withdrawn a little, so the PC division was spun off as a joint venture with the Chinese PC giant Lenovo, whereby both companies hoped for synergy effects, and Lenovo's access to the Japanese PC market was made easier.
Now the next step follows: Originally, NEC held 49% of the joint venture Lenovo NEC Holdings, Lenovo 51% - now NEC is selling the majority of these shares to the business partner. NEC will only keep around 5% of the 49% stake; the company intends to use the proceeds from the sale to invest in social infrastructure. However, that does not mean completely giving up influence: NEC retains some of the so-called deferred shares, which bring the company influence but no dividends. NEC continues to have a 33% share of the vote, which means that you still have a veto on important matters.
Lenovo, on the other hand, has secured the trademark rights to the name NEC. The joint company recently had a market share of around 25% in Japan. The investment can be seen as a sign that Lenovo continues to believe in the shrinking PC market.
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