Lenovo Unveils Its iPad Killer

Chinese computer maker Lenovo is going forward with its "Protect and Attack" strategy. The world's fourth-largest producer of personal computers now has set its sights on Apple (NASDAQ: AAPL) and its popular iPad tablet device. The company recently unveiled its LePad, which serves as both a laptop and tablet PC. The dual laptop/tablet device will run Windows when plugged into the base or Android when used as a tablet. Analysts estimate that the device, which recently launched in China, will grab nearly 10% of the country's tablet sales. Lenovo believes that the device will be a hit in other markets too; the U.S. can expect the device this summer.

The hybrid device will be attractively priced; costing about $1,000 or about the same as midrange laptops. However, when you consider the added tablet feature, the price is very reasonable. While it may not be an iPad killer, the LePad may have the greatest success with corporate users. Lenovo is the number one in notebooks among companies and public-sector institutions, thanks to its ThinkPad line of laptops. Corporations are still in the so-called “PC refresh cycle” and the LePad could see huge sales from the corporate world.

Lenovo Group (OTCBB: LNVGY) trades on the pink sheets and could be one of the few serious contenders to Apple's tablet dominance. Investors may want to consider the stock as the PC refresh cycle still has 2 to 4 years remaining.