Lenovo lets loose tablet plans -

Lenovo is the latest company to announce its own device in the emerging, and increasingly crowded, tablet PC market.

China’s largest personal computer maker by shipment is looking to grab a slice of the market which is currently dominated by Apple’s iPad, by launching its own slate in the US next year, with Chief Executive Yang Yuanqing suggesting that he is keen to also make acquisitions in the PC market.

A host of other firms have recently announced plans to challenge the iPad’s market dominance in the near future.  Dell has announced plans for its five-inch Streak tablet to be followed by seven and ten-inch versions, while Samsung has its Galaxy Tab.

Research in Motion’s PlayBook tablet sees the firm price its device deliberately under that of Apple at less than $500. We're not sure if that means $499.99.

Lenovo’s device, labelled LePad, will not certainly not win any prizes for its name, sounding like a cheap Apple knock-off you might buy from a guy with a dodgy beret in a badly-lit Marseille backstreet.

The unveiling of the tablet also came with the announcement that Lenovo will be investing $15.1 million dollars in a program to support developers of mobile internet applications and services as the firm seeks to expand its download store, according to The Wall Street Journal.

Levono said in April that it is expecting that such investment in mobile technologies will eventually lead to 10-20 percent of its revenue coming from mobile internet services. 

Lenovo has also recently released a smartphone named, you guessed it, LePhone, aiming to sell one million units in China within a year, while it will also branch out into e-readers with Guangzhou Hua Yue Digital Technology receiving support to develop applications for Lenovo.

"We will keep growing faster than the market average, than the competition," Mr. Yang said, adding that the firm also seeks to be the leader in the global desktop PC market, currently situated fourth behind HP, Dell and Acer.

It was announced on Wednesday that Lenovo’s quarterly profit rose 45 percent from the same period last year, amounting to $77 million, largely supported by its notebook sales