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Global smartphone shipments climbed 38.4 percent last year, research firm IDC said.
Asian equity markets stabilized on Tuesday following two straight sessions of sharp losses but caution prevailed ahead of a Federal Reserve meeting.
Second-tier smartphone markers are closing the gap on rival Apple, capturing a collective market share close to that of the iPhone maker in 2013.
Steven Pelayo, Regional Head of Technology Research, Asia-Pacific at HSBC, says firms exposed to China's developing smartphone market will see higher relative growth.
Gene Cao, Senior Analyst at Forrester Research, says Lenovo is poised to be China's largest service provider, after acquiring IBM's low-end server business for 2.3 billion dollars.
Thursday's midday movers:
China's Lenovo is to buy IBM's x86 low-end server business in a deal valued at $2.3 billion.
Lenovo is nearing an agreement to buy IBM's low-end server business for $2-2.5 billion, countering the shrinking personal computers market.
Jay Srivatsa, Managing Director at Chardan Capital Markets discusses a potential IBM-Lenovo partnership and says that the technology sector is experiencing a sea change.
IBM earnings after the close are important. They've missed the last couple times, and traders say the company may be primed for a beat.
China's Lenovo Group has resumed discussions to buy International Business Machines' low-end server unit, a source told Reuters.
Despite the iPhone's price, Apple could see strong demand for its device from China Mobile users, an expert says.
A deal to sell iPhones on China Mobile's vast network is a "watershed moment," Apple CEO Tim Cook told CNBC on Wednesday.
The Chinese company had the dubious honor of shipping the most PCs last year—the worst in the industry's history.
BlackBerry co-founder Mike Lazaridis cut his stake in the company to 4.99 percent from 8 percent.
Apple's share in China's smartphone market leapt in October, making the iPhone maker the third-largest smartphone player in the mainland.
As growth in the global smartphone market shifts from the developed to the emerging world, HSBC highlights the stocks to best play the trend.
Samsung sold almost three times as many smartphones as Apple in the third quarter, according to Gartner.
U.S. technology companies may face new challenges selling their goods and services in China as fallout from the U.S. spying scandal takes a toll.
Wong Wai Ming, CFO of Lenovo, says that the company's number one PC status can be leveraged into developing tablets.