科技英语新闻:Lenovo, SMG form joint venture to offer mobile-Internet video services

SHANGHAI, March 17 (Xinhua) -- Lenovo Group and a subsidiary of Shanghai Media Group (SMG) signed an agreement on Thursday to create a firm that would provide mobile-Internet video services.

BesTV New Media Co., a subsidiary of SMG, owns 51 percent of the venture, named Shanghai Video Cloud Company Limited, while Lenovo owns the remainder. The total investment of both parties in the new firm exceeded 10 million yuan (1.52 million U.S. dollars), according to the agreement.

Lenovo is currently the largest personal computer maker in China. BesTV New Media is a provider of Internet Protocol Television (IPTV), mobile television and other forms of new media.