BEIJING, China - Following the steps of rival computer giants Acer and Asus, Lenovo too is once again entering the mobile handset business, after quitting it last year.

Lenovo Mobile Communication Technology Ltd. had been sold to Hony Capital for US$100m; the parent company has now chosen to reacquire all its shares for a hefty sum of US$200m, a value close to the manufacturer's operating income for this year.

The company's CEO, Yang Yuanqing, justified the recent purchase with the following statement: "As Lenovo’s global PC business continues to make steady progress, we view mobile Internet as a key growth opportunity moving forward globally. Lenovo has prepared itself in this area. We have developed first class products with excellent hardware and operating systems integration. We will launch these innovative new products in China soon."

The brand has been retailing smartphones under its name, such as the Google Android-based Lenovo OPhone, and its success most probably caused Lenovo to fully invest in the segment.