A lot of companies have their sights set on Apple Inc. (NASDAQ:AAPL). Cupertino is well known for the success of its products, including the iPhone and iPad, which naturally attracts competition. While Google Inc (NASDAQ:GOOG) itself has been a major competitor with its Android operating system, there are other companies creeping into the action.
For the time being, let’s forget about Tim Cook and Larry Page. Instead, let’s take a closer look at Lenovo’s CEO Yang Yuanqing.
Although you may not know the first thing about this company, it may be time for you to listen up.
Did you know that Lenovo holds the top spot for worldwide PC shipments? Many are surprised by this, but there is another bit of information that you don’t want to overlook: the company is selling more tablets and phones than computers.
With a 41 percent year over year increase in tablet and phone sales, it is easy to see why this company needs to be taken seriously.
What does this mean to Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG)?
In the grand scheme of things, you can guarantee that Apple knows what Lenovo is doing. That being said, Cupertino is not going to lose sight of its goals or make changes based on the competition.
On the other side of things, you have Google Inc (NASDAQ:GOOG). The search engine giant stands to gain more from the rise of Lenovo, thanks to the fact that some of the company’s many devices rely on its Android operating system.
Much like Samsung, Lenovo is hoping that its partnership with Google can help its business reach the next level. If this happens, Apple Inc. (NASDAQ:AAPL) will have another competitor to deal with.
During a conference call earlier this week, Lenovo’s CEO Yang Yuanqing said “smartphones are our new opportunity..
He also added: “I believe the PIC is a more powerful, multi-function device. People still need this product. It’s still a $200 billion market industry.”
Apple Inc. (NASDAQ:AAPL) does not have any plans on letting go of its lead in the tablet market. If Lenovo wants to make up any ground, it will need to do something special in this space. With the help of Google Inc (NASDAQ:GOOG), this may very well be possible.
Despite increased competition, these hedge fund managers continue to invest heavily in Apple: David Einhorn, Mark Diker, Christopher Hansen, and Jeffrey Edwards.
Learn more about Lenovo by watching the video below:
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