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After Gobbling up Motorola, Lenovo Becomes Third-Biggest Smartphone Maker

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After Gobbling up Motorola, Lenovo Becomes Third-Biggest Smartphone Maker After gobbling up Motorola, Lenovo becomes third-biggest smartphone maker by Shalene Gupta @ShaleneGupta October 30, 2014, 4:51 PM EDT E-mail Tweet Facebook Linkedin Share icons Chinese tech giant leaps ahead of rival Xioami, which held the spot for just one day. Yesterday, research firm IDC said that Chinese company Xiaomi had become the world’s third largest smartphone maker. But the victory was short-lived. Today, Chinese tech giant Lenovo leapfrogged ahead by finalizing its acquisition of Motorola from Google for $2.9 billion. The deal means that Lenovo, the world’s biggest PC maker, now ranks third in global smartphone market share. Xiaomi, which is heralded as China’s “Apple,” shipped 17.3 million smartphones in the third quarter, according to IDC. Globally it had 5.3% of the smartphone market. But by acquiring Motorola, Lenovo’s 5.2% marketshare jumps to 7.4%. At least, that’s if you combine their third quarter sales. Lenovo still has a lot of ground to make up if it hopes to catch the companies ahead of it. Apple has a 12% market share while Samsung’s is 23.8%, according to IDC. Coincidentally, 7.4% is the same market share Lenovo had in the personal computer market after acquiring IBM’s personal computer business in 2005. Today, Lenovo dominates the PC space with a 19.9% market share. The Motorola acquisition had been winding through the usual closing and regulatory process since January. The combination immediately lifts Lenovo’s position in North America and Latin America while giving it access to Western Europe. Google acquired Motorola in 2012 for $12.5 billion in hope of gaining traction in making and selling mobile devices. But consumers mostly stuck with buying from rivals, turning the acquisition into one of Google rare high-profile failures. Although it sold Motorola at a loss of nearly $10 billion, Google still retains the rights to most of Motorola’s patents. Nevertheless, Lenovo gets around 2,000 patents in the deal and a license for several others. “We want to be the number one smartphone maker on the planet,” said Brion Tingler, a Lenovo spokesman. “A lot of people are saying we can get to number one, just like we did with computers.” Lenovo or Xiaomi, either way, China is in third place with aspirations of climbing higher. Motorola Mobility/Lenovo acquisition day on Oct. 29, 2014, in Chicago. Photograph by Timothy Hiatt Getty Images for Motorola 8/23/2016 Alcoa Details Plans to Split Into Two Companies Alcoa Details Plans to Split Into Two Companies Parent company, called Arconic, to focus on aerospace, automotive, transportation, and building and construction markets ENLARGE An Alcoa aluminum plant in Alcoa, Tenn. In the company’s split, the mining, refining and smelting operations will be spun off into a company that would keep the Alcoa name. Photo: Reuters By John W. Miller Updated June 29, 2016 1:01 p.m. ET Alcoa Inc. detailed plans to break up the aluminum maker after 127 years, a move aimed at capitalizing on growth in the aerospace sector while insulating its shareholders from flailing commodity markets. In a securities filing laying out a split planned for later this year, Alcoa said it would change its name to Arconic and focus on engineering parts for aerospace and automotive businesses, and spin off a new company, Alcoa Corp., which will house the company’s traditional mining, smelting and refining divisions. Shareholders in the existing Alcoa will receive shares in Arconic, the new parent, as well as at least 80.1% of the shares in a new, spun-off Alcoa, the company said. Arconic will hold the remaining stake in the spinoff, but said http://www.wsj.com/articles/alcoa-details-plans-to-split-into-two-companies-1467201833 1/3 8/23/2016 Alcoa Details Plans to Split Into Two Companies it plans to sell that stake, eventually severing its relationship with its main aluminum supplier, and its exposure to tepid aluminum markets. Arconic will take on over 85% of the company’s $9 billion in debt, giving Alcoa a boost as it seeks to survive amid depressed aluminum markets. At the same time, Arconic’s growth potential and its reduced exposure to the price of raw aluminum put it in a stronger position to borrow money. More on Alcoa Its profitability and future prospects mean credit markets look at it differently than if it were still a commodity business with a middling cost position,” says Andrew Lane, an analyst for Morningstar Inc. Inc. The split, which includes a non-exclusive supply agreement, also frees up Arconic to buy more raw aluminum from outside suppliers, and gives it more flexibility in purchasing. “The Alcoa smelters will be able to sell metal closer to where they are, and the downstream can buy from anywhere,” says Lloyd O’Carroll, an analyst for data provider and researcher CRU and an Alcoa bondholder. “It’s an optimization, and it will save on freight.” The company didn’t disclose the date for the split. Alcoa’s share price closed down 2.5% at $9.10 on Wednesday in New York Stock Exchange trading. Depressed by lower demand and Chinese oversupply, the raw aluminum price on the London Metal Exchange has fallen to around $1,500 a ton, down from over $2,500 a ton five years ago, frustrating Alcoa’s efforts to boost its share price. In 2015, the company reported a net loss of $121 million, compared with a net profit of $268 million in 2014. While raw aluminum was in the dumps, the aerospace sector has been hungry for fasteners and other alloyed parts, setting up the case for a split. Since 2014, Alcoa has made major acquisitions, including of U.K. jet-engine parts maker Firth Rixson Ltd. and Pittsburgh-based RTI International Metals Inc., and signed around $15 billion worth of supply deals with companies including Boeing Co. , Airbus Group SE and Lockheed Martin Corp. Advertisement By 2015, the company was reporting $12.5 billion in revenue for aerospace and other so-called downstream assets, compared with $11.2 billion in the raw aluminum divisions. Related Video 0:00 / 0:00 One of the key benefits of 3-D printing is that it produces parts with only the necessary materials. As companies have finally begun to incorporate 3-D metal printing into their processes, the manufacturing world is poised for a big change. Photo: Hermann Jansen “Alcoa has the leading technology in the world for aerospace, and they’ve protected it with patents and supply- chain agreements, and they’re doing everything possible to protect that,” said Dick Evans, former chief executive of Alcan, in an interview. http://www.wsj.com/articles/alcoa-details-plans-to-split-into-two-companies-1467201833 2/3 8/23/2016 Alcoa Details Plans to Split Into Two Companies Splits and spinoffs are becoming “increasingly common” as the economy weakens, said Anil Shivdasani, a professor of finance at the University of North Carolina. “Companies have limited options to grow their business, so if they can identify a piece of the business that has greater potential for growth, a split makes sense.” It also has risks. There is still a lawsuit pending with an Australian joint venture partner objecting to the terms of the split, with a trial date set for September. The primary metals business could face a harder time raising capital, and continued headwinds in global metals markets. Since 2007, Alcoa has been closing high-cost-smelters, including eight of its 10 U.S. smelters. Instead, Alcoa will make aluminum in places with plentiful energy, where the power costs of making aluminum are closer to 20%, such as Norway, Iceland, Canada and Saudi Arabia. Spinoffs tend to do well with investors, but they tend to make juicy targets for acquisition, say analysts. And Arconic’s automotive-sheet business will be smaller and more vulnerable than aerospace, say industry experts. Write to John W. Miller at [email protected] http://www.wsj.com/articles/alcoa-details-plans-to-split-into-two-companies-1467201833 3/3 1/11/2016 Antitrust Cops Put Brakes on Staples, GE Deals - WSJ This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. http://www.wsj.com/articles/antitrust-cops-put-brakes-on-staples-ge-deals-1449536450 BŲȘİŇĚȘȘ Ǻňťįťřųșť Čǿpș Pųť Břǻķěș ǿň Șťǻpŀěș, ĢĚ Đěǻŀș FȚČ fįŀěș șųįț țǿ bŀǿčķ Șțǻpŀěș’ țǻķěǿvěř ǿf Ǿffįčě Đěpǿț, ǻș ĢĚ đřǿpș ǻģřěěměňț țǿ șěŀŀ ǻppŀįǻňčěș bųșįňěșș țǿ Ěŀěčțřǿŀųx Staples’ roughly $6 billion takeover of Office Depot would create an office supplier with nearly $40 billion in annual sales. The companies said they would contest the FTC’s suit. PHOTO: LUKE SHARRETT/BLOOMBERG Bỳ BŘĚŇȚ ĶĚŇĐǺĿĿ įň Ẅǻșħįňģțǿň ǻňđ ĐŘĚẄ FİȚŻĢĚŘǺĿĐ ǻňđ ȚĚĐ MǺŇŇ įň Ňěẅ Ỳǿřķ Ųpđǻțěđ Đěč. 7, 2015 8:10 p.m. ĚȚ Fřǿm ķįțčħěň șțǿvěș țǿ pǻpěř čŀįpș, Ų.Ș. ǻňțįțřųșț ěňfǿřčěřș ǻřě pųțțįňģ țħě břǻķěș ǿň ǻ http://www.wsj.com/articles/antitrust-cops-put-brakes-on-staples-ge-deals-1449536450 1/5 1/11/2016 Antitrust Cops Put Brakes on Staples, GE Deals - WSJ șěřįěș ǿf čǿřpǿřǻțě đěǻŀș țħǻț ħǻvě țěșțěđ țħě ģǿvěřňměňț’ș ẅįŀŀįňģňěșș țǿ ŀěț ŀǿňģțįmě řįvǻŀș čǿmbįňě țẅǿ bįģ bųșįňěșșěș. Ǿň Mǿňđǻỳ, țħě Fěđěřǻŀ Țřǻđě Čǿmmįșșįǿň fįŀěđ ǻ ŀǻẅșųįț țǿ bŀǿčķ Șțǻpŀěș İňč.’ș řǿųģħŀỳ $6 bįŀŀįǿň țǻķěǿvěř ǿf Ǿffįčě Đěpǿț İňč., ǻ đěǻŀ țħǻț ẅǿųŀđ čřěǻțě ǻň ǿffįčě șųppŀįěř ẅįțħ ňěǻřŀỳ $40 bįŀŀįǿň įň ǻňňųǻŀ șǻŀěș. Țħě ŀǻẅșųįț ǻŀŀěģěđ țħě čǿmbįňǻțįǿň ẅǿųŀđ měǻň ħįģħěř přįčěș fǿř čǿmpǻňįěș țħǻț bųỳ ǿffįčě șųppŀįěș įň bųŀķ.
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