HANGZHOU, China, July 16, 2012 /PRNewswire-Asia/ -- China 3C Group ("China 3C", or "the Company"), announced today that it has been selected by the Lenovo Group ("Lenovo") to be one of its authorized sales channels.
The Lenovo Group is a US$30 billion personal technology company and the second largest PC company in the world. Its product lines include legendary Think-branded commercial PCs and Idea-branded consumer PCs, as well as servers, workstations, and a family of mobile internet devices including tablets, smart phones and smart TVs. Since 1997, Lenovo has ranked No. 1 in China's domestic PC market, accounting for more than 30% of China's market share. It is also currently the No.1 PC company in Japan and the fastest-growing among the world's top four PC makers.
"We are very proud to be selected by a great company like Lenovo", commented Mr. Zhenggang Wang, the Chairman and Chief Executive Officer of China 3C, "being able to work with Lenovo is a privilege for China 3C, and is recognition of our performance."
Pursuant to the signed agreement, the cooperation will evolve in stages. Stage One will start with Lenovo's Idea-branded consumer PCs, such as IdeaPad Laptops and IdeaPad Tablets. China 3C will provide product sales and the unique Lenovo shopping experience at China 3C's high quality retail outlets in Zhejiang province, China. In Stage Two, China 3C and Lenovo will proceed to a fuller-scaled cooperation in mobile internet devices such as smart phones and smart TVs that will involve both product sales and services.
Since the launch of the cooperation with Lenovo in late April, China 3C's retail stores have demonstrated strong performance. The contribution in both sales and margins from Lenovo products have increased steadily by approximately 30% month to month. With the advent of summer, which is usually high season for computer products, China 3C anticipates further improvement in performance and the development of a strong foundation from which to advance its alliance with Lenovo.
About China 3C Group
China 3C Group ("China 3C", or "the Company") is a leading wholesale distributor and retailer of 3C merchandise: computers, communication products and consumer electronics. The company specializes in wholesale distribution and retail sales of 3C products in Eastern China, focusing on products that make life more comfortable, convenient and connected. The company operates under the Yosen and Wang Da brand names. For more information, visit http://www.china3c.cn .
Safe Harbor Statement
Certain statements in this press release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the Company's future performance. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the periodic reports that are filed with the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
SOURCE China 3C Group