In a deal that is expected to close by the end of the year, Lenovo will buy Chinese smartphone maker Huawei in a $400 million deal, the Wall Street Journal reported.
The deal is expected close in December, and the deal value will be based on the company’s recent sales.
The report did not provide details on the price.
In addition to the Lenovo deal, a consortium of Chinese companies including Lenovo, China’s Huawei and Samsung have signed a memorandum of understanding to jointly develop a new ultra-wide-screened 4K laptop for sale to consumers in the United States, according to the WSJ.
The agreement could potentially give Lenovo the same level of exclusivity and distribution as Apple and Samsung.
In a separate report, Forbes said that the acquisition of Huawei will make it the world’s largest maker of premium laptop monitors, according a report from Bloomberg.
In addition to buying Lenovo, the Chinese company is also expected to announce a $300 million acquisition of Nokia, according the Wall St Journal.
Earlier this year, Bloomberg reported that the Chinese technology giant had reached a deal to acquire Nokia’s smartphone business, according an executive familiar with the matter.
Huawei, a Chinese company that makes high-performance cameras, will be a division of the company.
HTC and Apple have also been in talks to purchase Nokia’s devices.