Lenovo Reports Third Quarter FY2006/07 Results
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Lenovo Group today reported results for the third fiscal quarter ended  December 31, 2006. Lenovo's consolidated  revenue for the third quarter increased slightly year over year to  US$4.0 billion.
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Lenovo plans to issue 5,000 leather-bound laptops, each individually numbered, to commemorate the 15th anniversary of the ThinkPad line. Price: $5,000.
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Plus: Lenovo posts 2006-07 net surge...HP sales up on PC strength...Sony loss widens, but upturn seen ahead.
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U.S. computer firm IBM  raised  US$123 million by selling about 3.5 percent of number three  global PC maker Lenovo Group Ltd. (0992.HK), a term sheet  showed, triggering a 7 percent share slide before a suspension  kicked in.
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By Kyodo News International, Tokyo  Jan. 31--TOKYO -- Toshiba Corp. on Wednesday revised downward its group  operating profit for this business year to 250 billion yen, compared with 270  billion yen estimated in October, due to sharp declines in flash memory  prices.
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By Jonathan B. Cox, The News & Observer, Raleigh, N.C.  Jun. 23--Lenovo has decided to put a $10 million fulfillment and distribution center in Guilford County as it improves U.S. operations.   The computer maker will expand without incentives.
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Lenovo Group said its net income almost tripled during its third fiscal quarter, thanks to strong demand for its computers and a weak U.S. dollar.Lenovo&#39;s sales during the quarter came to $4.6 billion, up 15 percent over the same quarter a year earlier, the company said in a filing with the Hong Kong stock exchange on Thursday. The company reported net income of $172 million for the quarter, compared to $58 million a year earlier.The results announcement came late. Lenovo was originally scheduled to report its financial results on Wednesday, but missed a filing deadline with the Hong Kong stock exchange that forced the company to delay releasing its results by one day, it said in a statement.Third-quarter PC shipments rose 22 percent compared to the previous year, which Lenovo said outpaced the industry average of 16 percent. That growth likely grew Lenovo&#39;s share of the global PC market from 7.1 percent to 7.5 percent, the company said.China continued to be Lenovo&#39;s strongest market, with shipments up by 25 percent during the third quarter. Strong desktop PC sales boosted shipments in the Americas by 15 percent, while the company saw 24 percent growth in Europe, the Middle East, and Africa. Strong demand in India helped boost shipments in Asia-Pacific, excluding China, by 20 percent, it said.Looking ahead, Lenovo noted that the economic outlook is uncertain, but said continued strong demand for PCs in Asia and emerging markets elsewhere means PC shipments will continue to see double-digit growth. The company is counting on the expansion of consumer PC and server sales into markets outside China to give it a boost in the months ahead.Lenovo also announced plans to sell its mobile-phone business, which saw phone shipments decrease by 31 percent during the fiscal third quarter. A group of private-equity investors will buy the business in a deal valued at $100 million, Lenovo said in a separate filing with the Hong Kong stock exchange.
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(InfoWorld) - Dell Inc. Tuesday pointed to its adoption of processors from Advanced Micro Devices Inc. (AMD) for pushing it to US$677 million in profit for the third quarter, though the company has delayed reporting final numbers due to an accounting investigation by the U.S. Securities and Exchange Commission (SEC). Dell's preliminary results mark anÂ improvement over the third quarter last year, when it reported $13.91 billion in revenue and a profit of $606 million. Dell reported revenue of $14.38 billion for the quarter, which ended Nov. 3, 2006. Dell did not offer an official comparison to the year-earlier figures, however. Dell reported earnings of $0.30 per share for the third quarter in 2006, beating the estimates of analysts who had expected Dell to earn $0.24 per share on revenue of $14.44 billion, according to a survey by Thomson Financial. The company was scheduled to report its earnings last Thursday, but delayed the move because it was trying to cooperate with investigations by the SEC and the U.S. Attorney for the Southern District of New York. Company leaders had cited the same reason after they missed a deadline for notifying the SEC of their second quarter earnings. They have still not filed that report, called a Form 10-Q. Company executives were not available to comment on the results. The company filed the numbers in a press release only, skipping the traditional conference call with reporters and analysts. Dell pointed to its success in selling computers powered by AMD processors for its impressive numbers. After missing its earnings target for the first quarter, Dell said in May it would finally diversify from selling computers with chips from Intel Corp. Still, Dell is having a rocky year. In June, Chief Executive Kevin Rollins promised to rebound from weak earnings by investing $100 million in customer service and by using fewer rebates in setting PC prices. But in August, Dell was forced to recall 4.1 million defective laptop batteries. Next, Dell acknowledged it was under investigation by the SEC, and, last week, lost its status as world's largest PC vendor to rival Hewlett-Packard Co.(HP). HP turned up the pressure last week when it reported net income of $1.7 billion for the fourth quarter, more than four times its mark for that period last year. Â
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No. 3 computer maker Lenovo Inc. has recalled 208,000 laptop computer batteries that could overheat in the U.S. company's second recall in six months.
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By Mark Lee  Shares of Lenovo Group, the maker of personal computers, rose Tuesday after a report said that the company might cut 1,000 jobs to reduce costs.  The stock rose 1.3 percent to 3.13 Hong Kong dollars, or 41 U.S.
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Lenovo Group Ltd. 0992.HK, the   world's No. 3 personal computer maker, said on Friday it has   not decided whether it would acquire failed South Korean PC   maker TriGem Computer Inc.
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Lenovo Group Ltd. 0992.HK and   IBM IBM.N are recalling more than half a million notebook   computer batteries made by Sony Corp. 6758.T after a computer   caught fire at the Los Angeles International Airport, Lenovo   and U.S. safety officials said on Thursday.
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Waves goodbye to Mary Ma, says hello to US Chinese computer maker Lenovo said its profits grew by more than 600 per cent in the fourth quarter.â¦
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Lenovo Group Ltd. agreed to pay $1.25 billion for International Business Machines Corp.&#39;s personal computer business, making the Chinese company the world&#39;s third- largest PC maker and giving it a globally recognized brand.
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Acer has passed Lenovo Group as the world&#39;s third largest PC vendor with its&#160;purchase of Gateway, and now it&#39;s&#160;gunning for U.S. giant Dell.Next year, Acer could take up to a 12 percent share of the global PC market, putting it in the position to challenge Dell, said J.T. Wang, chairman of Acer, at the company&#39;s third-quarter investors&#39; conference in Taipei on Friday.Shipments by Acer have been growing fast this year due in part to a focus on laptop PCs, the hottest segment of the PC market, and the company&#39;s strategy of working closely with distributors.Acer&#39;s shipments grew 58 percent year over year in the third quarter, according to Gartner. The Taiwanese PC vendor accounted for 8.1 percent of global PC shipments during the quarter, compared to its 5.9 percent share during the same time last year. The figures do not include Gateway, which&#160;Acer bought&#160;for $710 million last week.Dell&#39;s unit shipments grew 3.5 percent during the quarter, but it still lost market share compared to last year, finishing in second place at 14.4 percent compared to 15.9 percent.Hewlett-Packard kept its title of the world&#39;s biggest PC vendor by shipments during the quarter with an 18.8 percent share, compared to a 16.1 percent share a year earlier. Lenovo, the fourth place vendor, took an 8 percent share, compared to 7.5 percent last year. Market researcher IDC puts&#160;Lenovo ahead of Acer&#160;according to its third-quarter PC shipment figures.&quot;We believe we can maintain strong growth momentum through 2008,&quot; said Wang.Acer forecasts it will still grow by a double-digit figure next year, and faster than the global PC industry. Executives also said the fourth quarter of this year looks to be a good quarter, with no indication of a decrease in demand for PCs.&quot;We have not seen any slowdown. Demand is still quite good,&quot; said Gianfranco Lanci, president of Acer. He forecast unit shipments to grow 10 percent to 20 percent over the third quarter. The company did not say how many PCs it sold in the third quarter, but Gartner puts the figure at nearly 5.55 million units.In the fourth quarter, Acer will also start adding Gateway shipments to its figures, which will add to its market share.Gateway sold only 865,000 PCs in its biggest market, the U.S., during the third quarter, down from 1.01 million the same time last year, according to Gartner. Lanci believes a stronger laptop PC lineup will boost Gateway&#39;s market share figures in the U.S. going forward because the mobile PC is the hottest segment in the industry. New Gateway laptops could be out as early as the first quarter of next year.And Dell isn&#39;t sitting still. Efforts to turn around its business finally paid off this quarter when its worldwide unit shipments rose for the first time in four quarters. It&#39;s a huge company with a lot of resources and could still turn itself around. Acer&#39;s executives said size was becoming ever more important in the global battle for PC market share because bigger companies can force suppliers to cut their prices. That means Dell, as the second biggest PC maker, is still in a strong position.REFERENCES:Wall Street Beat: Acer masters the Art of War, Aug. 31, 2007Acer completes Gateway acquisition, Oct. 17, 2007Acer to acquire Gateway for $710 million, Aug. 27, 2007Gateway brand to expand after Acer purchase, Aug. 27, 2007
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&quot;On behalf of the Board of the Lenovo Directors I am honored to announced to the world that Lenovo Group has bought IBM&#39;s PC division for US$1.25 billion.
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U.S. computer firm IBM  raised US$123 million by selling about 3.5 percent of number three global PC maker Lenovo Group Ltd. , a term sheet showed, triggering a 7 percent share slide before a suspension kicked in.