Lenovo sales growth slows to 21% in Q4

Thursday 21 May 2015 | 09:05 CET | News
Lenovo reported revenues for its fiscal fourth quarter up 21 percent year-on-year to USD 11.3 billion, helped by its acquisition of Motorola Mobility and the IBM server business. Organic growth was held back by negative currency effects; without the forex effect, sales would have increased 28 percent. While the gross margin improved to 15.7 percent from 13.3 a year ago, the acquisitions led to a sharp rise in operating costs. As a result, operating profit fell 45 percent to USD 127 million, and net profit dropped 38 percent to USD 100 million. Lenovo said it laid a good base for profitable

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