Lenovo finally swung to a profit of 53.08 million dollars in the second quarter.

Source: Internet
Author: User
Keywords China Lenovo Group China swung
Tags continue cost global restructuring group lenovo lenovo group market market sales
Yeung in the implementation of the reorganization plan six months later, Lenovo Group (00992.  HK) finally turned a profit in the second quarter of fiscal year 2009/2010 and achieved 53.08 million dollars.  In the quarter, Lenovo's global PC sales rose 17% per cent year-on-year, while overall market sales rose 2.3% per cent over the same period. Lenovo's CEO, Yang, told CBN reporters yesterday that Lenovo would continue to implement the global restructuring plan announced earlier this season to enhance its cost competitiveness and operational efficiency.  The restructuring plan is expected to save about 300 million dollars for the group's annual operating rate. Lenovo's global market share reached 8.9% per cent in the quarter.  Lenovo Group chairman Liu was interviewed by CBN reporters yesterday, expressing satisfaction with Lenovo's performance. But at the same time, Liu said that the global PC market has not yet recovered, Lenovo still has a lot of problems, "things to do one thing, I hope we do not expect too much of us to give us enough space for development." "Despite the Better-than-trend performance, Lenovo is still struggling to put too much reliance on the Chinese market," he said. The Chinese market has become an important profit guarantee after the reorganization of the three major divisions in China, emerging markets and mature markets.  Emerging markets, including India, and mature markets, including the United States, have seen a big increase in sales but still have a bigger loss. Lenovo expects the group's operating environment to remain challenging in the second half of the fiscal year. "While the outlook for the global PC market is improving, the demand for the business market remains weak and Lenovo's portfolio is tilted to a low price, which will continue to weigh on the business." ”
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