Featured Articles

Apple iPad Air 2 costs $275 to build

Apple iPad Air 2 costs $275 to build

IHS has told Recode that the Apple iPad Air 2 16GB Wifi costs only $275 to build -- not bad…

More...
LG sells 16.8 million smartphones in Q3 14

LG sells 16.8 million smartphones in Q3 14

As Samsung is losing market share, another Korean company, which many had written off, is gaining.

More...
LG G Watch R EU price set at €299

LG G Watch R EU price set at €299

LG G Watch R is probably the best looking Android Wear device on the market and many have been waiting for…

More...
Nvidia GTX 970 SLI tested

Nvidia GTX 970 SLI tested

Nvidia recently released two new graphics cards based on its latest Maxwell GPU architecture, with exceptional performance-per-watt. The Geforce GTX 970…

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 13 February 2014 11:54

Lenovo posts huge profits

Written by Nick Farrell



Higher laptop sales

Lenovo, the world's largest PC maker, has posted record third-quarter profit after selling shedloads of laptops and mobile devices in emerging markets. The Thinkpad maker said earnings rose 30 percent to $265million from a year earlier, beating analysts' estimates of $247million.

Revenues jumped by 15 per cent to a record $10.8billion again thanks to sales in China. It was not all good news though, the firm warned its future finances will be negatively impacted by its recent purchase of IBM's low-end server business and Motorola Mobility. Lenovo paid more than $5billion or nearly half of the company's market value to buy both businesses in January.

Lenovo said it would take up to five quarters - or more than a year - to turn around the Motorola business, which it bought from Google for $2.9bn. But the Chinese firm stressed that the acquisitions are all part of a longer-term strategy to move away from its reliance on PC sales and expand its presence in the server and smartphone sectors.

Lenovo said it shipped a record 32.6 million devices in the third quarter, or nearly five devices every second.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments