Breaking News

Sharkoon announces SKILLER SGM25W ASUS Unveils ExpertBook B3 G2 Conner Introduces the World's First "Pocket Cloud" via Kickstarter Pioneer announces microSD for dashcam God of War Greek trilogy remake in development & God of War Sons of Sparta out now

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Lenovo 3Q Profit Fell On Weak Macroeconomic Environment

Lenovo 3Q Profit Fell On Weak Macroeconomic Environment

Enterprise & IT Feb 16,2017 0

Lenovo Group Ltd on Thursday posted a 67 percent slide in third-quarter net profit, as supply constraints and a weak macroeconomic environment weighed.

Profit fell to $98 million over the three months through December, from $300 million in the same period a year earlier. The company'srevenue fell 6 percent to $12.2 billion.

Component supply constraints across the industries in which Lenovo operates impacted performance, in addition to a challenging macro environment and global markets, the company said.

Despite the slow PC sales, Lenovo saw its core PC business book 2 percent revenue growth to $8.6 billion, reversing a seven-quarter downward trend. Shipments rose 2 percent to 15.7 million units, helped by a 5 percent rise in commercial PCs.

"Despite ongoing macro-economic uncertainties and the two new businesses still in transition, Lenovo delivered a solid performance last quarter," said Yang Yuanqing, Lenovo Chairman and Chief Executive Officer. "Our PC business remains strong, our Mobile business has made steady progress, and our Data Center business now has a clear improvement plan in place. Although it takes time to build the core competence in these two new growth engines, we are confident to achieve breakeven and profitable growth in them."

Lenovo also saw strong growth in tablets, up ten percent year-over-year, outperforming the market by 29 points, as well as significant year-over-year increases in high-growth product lines such as gaming PC (up 71 percent), Chromebook (up 76 percent ), and detachables (up 91 percent).

Shipments in its mobile phone unit fell 26 percent, though that represented improvement since the first quarter.

For Lenovo's Data Center Group (DCG), which includes servers, storage, software and services, sales in the third fiscal quarter were US$1.1 billion, down 20 percent year-over-year, and three percent quarter-to-quarter.

Tags: Lenovo
Previous Post
Seagate Introduces Game Drive for Xbox Halo Wars 2 Special Edition
Next Post
ZTE to Unveil The Gigabit Phone at Mobile World Congress 2017

Related Posts

  • Lenovo at CES 2026

  • All New Lenovo ThinkStation PGX

  • Lenovo at CES 2025

  • Leica completes trinity series for the SL-System

  • Lenovo AI-Driven Devices

  • Micron Delivers Crucial LPCAMM2 with LPDDR5X Memory for the New AI-Ready Lenovo ThinkPad P1 Gen 7 Workstation

  • Lenovo at CES 2024

  • Lenovo Unlocks New AI PC Experiences with ThinkPad and IdeaPad Laptops Powered by Intel Core Ultra Processors

Latest News

Sharkoon announces SKILLER SGM25W
PC components

Sharkoon announces SKILLER SGM25W

ASUS Unveils ExpertBook B3 G2
Enterprise & IT

ASUS Unveils ExpertBook B3 G2

Conner Introduces the World's First "Pocket Cloud" via Kickstarter
Enterprise & IT

Conner Introduces the World's First "Pocket Cloud" via Kickstarter

Pioneer announces microSD for dashcam
Consumer Electronics

Pioneer announces microSD for dashcam

God of War Greek trilogy remake in development & God of War Sons of Sparta out now
Gaming

God of War Greek trilogy remake in development & God of War Sons of Sparta out now

Popular Reviews

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

Terramaster F8-SSD

Terramaster F8-SSD

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Soundpeats Pop Clip

Soundpeats Pop Clip

Akaso 360 Action camera

Akaso 360 Action camera

Dragon Touch Digital Calendar

Dragon Touch Digital Calendar

be quiet! Pure Loop 3 280mm

be quiet! Pure Loop 3 280mm

Noctua NF-A12x25 G2 fans

Noctua NF-A12x25 G2 fans

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed