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Lenovo Q3 profit down sharply as mobile losses continue

Thursday 16 February 2017 | 08:51 CET | News
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Lenovo reported a sharp fall in results for its fiscal third quarter to December, driven by continued weakness in its mobile and server businesses. Revenue fell 6 percent year-on-year to USD 12.17 billion. While the PC and Smart Device division increased sales 2 percent to USD 12.17 billion, Mobile revenues fell 23 percent to USD 2.19 billion, and the Data Centre business dropped 20 percent to USD 1.05 billion. The gross margin fell to 13.1 percent from 14.6 percent a year ago, and operating profit dropped to USD 138 million from USD 379 million. Net profit was just a third of the

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