Lenovo Group has announced the extension of its joint venture agreement with NEC Corporation to 2026.
The joint venture permits the sales of NEC-branded PCs and tablets in the Japanese market through its subsidiary. It was finalised in June, 2011 and initially had a 5 year term lasting through June 2016, the companies said.
The extension of the business relationship provides customers and distributors with assurances of continuity and ongoing commitment to the market. The period of the agreement announced today was extended by two years through 2018 and automatically renews annually up to June 30, 2026, according to Lenovo.
“The NEC joint venture has been extremely successful solidifying our No.1 position in the world’s fourth largest PC market where we have steadily grown market share and improved our performance, making Japan a profitable growth engine for Lenovo in the region,” said Roderick Lappin, President and CEO, Lenovo NEC Holdings B.V.
“The extension of our NEC joint venture marks the continuation of our commitment to our Japanese customers and our long history of innovation in Japan, which includes NEC Personal Computer’s factory and R&D center in Yonezawa.”