HONG KONG: China's Lenovo said Thursday revenue rose 20 per cent in its past fiscal year, helped by its purchase of Motorola, but net profit growth slowed to just one per cent. The world's biggest personal computer maker, which is diversifying into the smartphone market, said revenue reached $46.30 billion for the year ending March 31. But net profit was up only one per cent for the period at $829 million, owing to increased operating expenses, which increased almost 40 per cent at $5.57 billion, the company said in a filing to the Hong Kong Stock Exchange.
Having conquered the global market for personal computers, China's Lenovo is setting its sights higher. "Lenovo is the best company in the world at balancing innovation and efficiency." So declares Yang Yuanqing, the chairman of the Chinese computer-maker.
Lenovo Group Ltd. (LNVGY) yesterday revealed that its acquisition deal for Motorola Mobility has been completed. The world’s largest personal computer manufacturer is looking to expand its presence in the smartphone market with the $2.91 billion acquisition from Google Inc. (GOOGL).
SAN FRANCISCO/SINGAPORE — China’s Lenovo Group Ltd unseated Hewlett-Packard as the world’s top PC maker in the latest quarter – a quarter which saw global shipments tumble 11% from a year earlier due to spectacular growth in tablets and smartphones.
It was the fifth straight quarter of decline and analysts expect PC shipments to continue to fall, albeit at a slower pace as companies upgrade to Windows 8 and buy laptops that can be separated from keyboards to become tablets.
China is considering lifting a decade-long ban on video game consoles, the official China Daily newspaper reported on Monday, sending shares of major hardware makers such as Sony Corp and Nintendo Co Ltd surging.
Chinese government to liberalise country’s banking sector. Hyundai to launch its first electric vehicle. IMB first to resolve its factory riots before settling down with Lenovo. BSE Sensex up due to strong local and foreign demand.
China's fast-growing Lenovo Group technology business is buying the troubled smartphone manufacturing division owned by Google, the giant U.S. Internet company.
Lenovo, already the world's biggest personal computer maker, is paying $2.9 billion for Google's Motorola Mobility handset-making operation. But the search engine is retaining rights to almost all of the 17,000 patents connected to the phones.
Google kept the patent rights so it could...