In order to meet rising global demand for smartphones and tablet computers, Chinese PC maker Lenovo is planning to invest about 5 billion yuan ($793 million) over the next five years in an integrated mobile devices facility in China. 

A person familiar with the matter informed our team that Lenovo’s new facility will house research and development segment along with production and sales. 

Lenovo’s new facility will help the company to bring out more mobile devices to both Chinese and foreign markets, besides making its supply chain better, sources informed. 

With the latest move, it is expected that Lenovo’s sales revenues will reach to 10 billion yuan by 2014, and will ultimately reach around 50 billion yuan in another five years. 

The new facility is likely to begin operations in October 2013.

Market watchers added, Lenovo is trying to make inroads to the flourishing mobile devices market, where the company has to compete with other contenders including Apple Inc, Huawei Technologies Co Ltd, Samsung ElectronicsCo Ltd and ZTE Corp.

Seems, Lenovo is now steadily expanding its reach to more smartphone and tablet markets.