The acquisition of Fujitsu-Siemens could give Lenovo a quick entry to the large Western European market, said Richard Shim, research manager at IDC.

Fujitsu-Siemens is one of the top-five PC vendors, and Lenovo's past attempts to crack into the European market have not borne fruit, Shim said. Lenovo tried in 2007 to acquire European PC vendor Packard Bell, which was ultimately bought by Acer.

Lenovo is also rumored to be competing with Dell to try to acquire Brazilian PC maker Positivo Informatica, according to media reports from Brazil. Positivo Informatica to be one of the top PC makers in Brazil with a 13.2 percent share of PC units shipped in the third quarter of 2008.

A Positivo spokesman in Brazil declined comment on companies bidding to acquire its PC operations, but the company issued a statement saying that it will consider proposals that are beneficial to its shareholders. Lenovo and Dell spokespeople declined comment on the "speculation."

Worldwide PC shipments have dropped due to the economic downturn and a slowdown in spending by customers. Analysts have predicted industry consolidation as a consequence.