BEIJING -- Chinese personal computer manufacturer Lenovo Group will spend more than 100 billion yuan ($15.7 billion) over the next five years on research and development, the company said Wednesday, as it shifts from hardware to high-tech services.
Lenovo Chairman and CEO Yang Yuanqing unveiled the plan during a company event kicking off the new fiscal year. Yang told Nikkei in September that Lenovo will double its R&D war chest over the next three years. The latest announcement greatly expands on those ambitions.
