Lenovo and Fujitsu have announced the creation of a joint-venture company. Lenovo is effectively buying a 51% controlling stake in Fujitsu’s FCCL (Fujitsu Client Computing Ltd). Fujitsu is selling an additional 5% to Development Bank of Japan (DBJ).
Fujitsu gains about 28bn¥, providing them with cash for the rest of the business. Lenovo pays 25.5bn¥, and DBJ cover the remaining 2.5bn¥. The transaction keeps Kuniaki Saito, the current representative director and president of FCCL, in the post.
Through this strategic collaboration, Fujitsu and Lenovo aim to drive further growth, scale and competitiveness in the PC businesses both in Japan and worldwide. The JV will leverage Fujitsu’s capabilities in global sales, customer support, R&D, highly-automated and efficient manufacturing and systems integration that meet customers’ demand. Furthermore, it will benefit from Lenovo’s global scale and presence.
The wording here sounds like Lenovo gains manufacturing capacity and market share. Both organisations seem like the struggle with PC sales declines are providing a challenging environment for growth. (Gartner Says Worldwide PC Shipments Declined 4.3 Percent in Second Quarter of 2017)
Press-releases entitled “Fujitsu, Lenovo and DBJ form PC Joint Venture” are available from Lenovo and Fujitsu‘s websites.