Thursday, 15 November 2018
/ Mobile Phones / Lenovo Posts First-Quarter Profits

Lenovo Posts First-Quarter Profits

Chinese innovation goliath Lenovo Thursday recorded a sharp ascent in first-quarter net benefit as the organization’s turnaround accumulated pace.

The PC producer posted a $77 million net benefit in the quarter to June 30 - up from a $72 million misfortune in a similar period a year ago.

"The Group stays positive about its center PC business and expects to develop ... without bargaining on benefit," director Yang Yuanqing said in an announcement.

Expert Jackson Wong said the rivalry between PC producers "isn't as wild as it is in the versatile segment", while Lenovo's emphasis on equipment has additionally added to the positive outcomes.

Lenovo additionally revealed a 19 percent ascend in income to $11.91 billion - its second continuous quarter of twofold digit income development.

The tech mammoth is turning its fortunes around following a $189 million net misfortune for the full monetary year, hauled around a $400 million non-money discount charge from conceded pay assess resources.

The organization's offers ascended to six percent to HK$4.72 early in the day after the outcomes were discharged.


Image Credits: Business Recorder