"The LePhone is selling so well that we have run out of stocks," Tong Fuyao, Lenovo (00992.HK) vice president said June 28, according to China Business News.

Lenovo is hoping to sell a million units of the handset in China.

Designed especially for China Unicom, the LePhone is of great importance for the development of Lenovo's mobile business. Lenovo sees it as a major competitor to the iPhone.

Lenovo has been making great efforts to promote its consumer electronics business. And following its great success in the PC market, Lenovo is also expected to try to boost its presence in the server and solutions space, said Tong Fuyao. Statistics show that last year, Lenovo's solutions business in China brought in US$150 million in revenue.

China's business press carried the story above on Tuesday. China.org.cn has not checked the stories and does not vouch for their accuracy.