[Global Technology Reporter Wang Huan] According to "Nihon Keizai Shimbun" reported on May 26, China's Lenovo Group announced on May 25th the fiscal year 2016 (as of March 2017) financial report shows that the final profit and loss for the profit of 535 million US dollars ( In fiscal year 2015, it lost $128 million.) Lenovo Group turned losses into profit after two financial years by implementing restructuring and cutting expenses. However, services such as smart phones still failed to recover.
Lenovo’s sales in FY2016 decreased by 4% year-on-year to US$43 billion. Shipments of the main PC and tablet divisions were 66.6 million units, which was basically the same as the previous year. The global market share was 15.4%, surpassing the United States for the first time to top the list.
On the other hand, Lenovo’s smartphone division, which acquired Motorola’s US subsidiary, has seen its losses increase, and has been sluggish in the Chinese market, which has been intensified by competition with emerging companies such as OPPO. Affected by this, shipment volume decreased by 22%, and its global share was only 3.5%. The small-to-medium-sized server business acquired from IBM in the United States also lost some customers, and the data center department turned into a loss.
Yang Yuanqing, Chairman and Chief Executive Officer (CEO) of Lenovo, said at a press conference in Hong Kong that China’s smartphone market accounts for 30% of the global market and we will never give up. Denies speculation that Lenovo will exit the Chinese mobile phone market.
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