Lenovo sees US$189m net loss on one-time charge
CHINESE technology giant Lenovo yesterday said it recorded a US$189 million net loss for its full fiscal year due mainly to a one-time charge, while saying it was planning an overhaul to broaden its appeal.
The Beijing-based company also reported a 69 percent decline in profit in its fourth quarter ending March 31. Quarterly profit was US$33 million, compared to US$107 million in the same quarter last year.
Revenue in the fourth quarter rose 11 percent annually to 10.6 billion, the first double-digit gain in 10 quarters, while full-year revenue was up five percent, it said in a statement to the Hong Kong Stock Exchange.
Full-year profit was hit by a US$400 million non-cash write-off charge from deferred income tax assets, the company said.
Lenovo continues to be weighed down by the poor performance of a subscale mobile segment despite an improved datacenter business, Johnathan Ritucci, a Bloomberg Intelligence analyst, wrote ahead of the release.
“Its US PC franchise strategy also needs to be confronted quickly, as (rival Hewlett-Packard) continues to gain segment share,” he said.
Lenovo said it will combine its personal computer group, smart devices and mobile business into an “intelligent devices group,” transforming itself from a single PC hardware company into multi-business group.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.