Lenovo Q4 revenues fall 19% after drop in smartphone sales

Thursday 26 May 2016 | 11:56 CET | News
Lenovo reported revenues for its fiscal fourth quarter to March down 19 percent year-on-year to USD 9.133 billion, as the company suffered from the slowdown in the PC market and falling mobile phone sales. Operating profit still improved, by 95 percent to USD 248 million, thanks to restructuring and cost-cutting efforts, and net profit was up 80 percent to USD 180 million. The company maintained its dividend at HKD 0.25 per share. The group shipped 10.9 million smartphones in the quarter and 66.1 million over the full year, down 13 percent. Lenovo said that while it achieved its goal of

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Categories: Mobile & Wireless
Companies: Lenovo / Motorola Mobility
Countries: World
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