STEVE INSKEEP, HOST:
NPR's business news starts with mobile investment in China.
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INSKEEP: The world's second-biggest maker of personal computers, Lenovo Group, announced today that it will invest nearly $800 million over the next five years to build a mobile device facility in China. The company will develop and manufacture products like smartphones, tablet computers, other mobile devices to meet growing global demand.
Sluggish PC sales have prompted the Chinese-based company to shift focus to mobile technology and begin directly taking on industry giants like Apple and Samsung.
The new facility will begin operations in 2013. Transcript provided by NPR, Copyright NPR.