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Wireless

Lenovo profits improve on cost cuts, mobile breaks even

Wednesday 3 February 2016 | 09:20 CET | News
Lenovo reported improved profits in its fiscal third quarter to December following cost cuts, while revenues were still lower on the weak PC market. Revenues fell 8 percent year-on-year to USD 12.91 billion and were down 3 percent after excluding exchange rate effects. Revenue from the PC business dropped 12 percent year-on-year to USD 8.03 billion, and mobile revenues were down 4 percent to USD 3.25 billion, while the enterprise business grew by 8 percent to USD 1.31 billion. The gross margin dipped to 14.6 percent from 14.9 a year ago. Operating profit still rose to USD 379 million from USD

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Categories: IT / Mobile & Wireless
Companies: Lenovo
Countries: World
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