Lenovo on Tuesday said it inked an agreement to extend their joint venture agreement to sell NEC-branded PCs and tablets in the Japanese market through 2026.
The duration of the five-year agreement — announced in 2011 — was till 2016.
The extension of the business relationship provides customers and distributors with assurances of continuity and ongoing commitment to the market. The period of the agreement announced today was extended by two years through 2018 and automatically renews annually up to June 30, 2026, said Lenovo.
“The NEC joint venture has been successful solidifying our #1 position in the world’s fourth largest PC market where we have steadily grown market share and improved our performance, making Japan a profitable growth engine for Lenovo in the region,” said Roderick Lappin, President and CEO, Lenovo NEC Holdings.