China’s largest PC vendor Lenovo has announced a CNY100 million (US$15.1 million) investment program to support developers of mobile Internet applications and services as the firm looks to expand its application download store, according to a report from The Wall Street Journal (WSJ). Guangzhou Hua Yue Digital Technology is the first company to receive support from the program, for its work on e-reader applications.
Also today it was revealed that Lenovo is working on launch of a tablet device dubbed ‘LePad,’ and the company’s new investment in apps will ensure its software works with the new device. The WSJ notes that Lenovo said in April it expects 10-20 percent of its revenue will come from mobile Internet services within five years, up from low single digits at the time. In May, the company launched a smartphone called LePhone in China with a goal of selling 1 million units within one year.