News Letter
Weather
Community
English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
China
World
Opinion
Business
Sci-Edu
Culture/Life
Sports
Photos
 Services
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 Search
 About China
- China at a glance
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Chinese leadership
- Selected Works of Deng Xiaoping

Home >> Business
UPDATED: 08:09, February 05, 2005
Lenovo claims 19 pct operational profit growth in quarterly report
font size    

Lenovo group, a world name since buying out IBM's PC business last December, announced in its quarterly report Friday.

Its core business has seen an year-on-year increase of 4 percent and its operational profits has risen 19 percent from the same period last year.

Lenovo's third fiscal quarterly report (from October to December of 2004) said that it will phase out non-core businesses until they account for only 0.6 percent of the total operational volume. The company will instead focus on PC and mobile phone businesses, said Yang Yuanqing, president and chief executive officer of Lenovo.

"The guidelines for Lenovo's strategic adjustment and reform after acquisition are 'concentration, customer-oriented and efficiency,' and our group is moving forward upon them," Yang said.

A world famous research institution said recently in its surveythat Lenovo PC's international market share has reached 28.1 percent, the third quarter of consecutive rises.

Lenovo's 1.75 billion US dollars purchase is the largest overseas acquisition by a Chinese company and some worried that the company was not ready to carry on IBM's world famous brand.

"The market consensus is quite negative about the deal as the major problem with the PC market is tight margins and cutthroat competition," said JP Morgan analyst Johnny Chan.

Yang said, however, after Lenovo and IBM's efforts to integrateits employees and clients resources, more than 90 percent IBM clients responded positively, their survey indicates.

Source: Xinhua


Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this


   Recommendation
- China Forum
- PD Newsletter
- People's Comment
- Most Popular
 Related News
- Lenovo: Acquisition of IBM's computer business progressing smoothly

- Don't politicize business

- Lenovo's deal to buy IBM's PC business running into trouble

- Lenovo: IBM deal on despite challenges

- Lenovo initiates new wave of partnership


Copyright by People's Daily Online, all rights reserved