Lenovo reports 85 pct. drop in net profit
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China&#039;s Lenovo Group Ltd. said Thursday its net profit fell 85 percent in the company&#039;s first fiscal year since it bought IBM&#039;s personal computer business.
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By MATT SLAGLE  DALLAS - Dell Inc., which is the subject of a federal probe into its finances, said Thursday that fourth-quarter profits plunged 33 percent due to weak sales of laptops and notebooks, which account for the lion's share of its revenues.
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NEC Corp., Japan's third-largest  electronics conglomerate, on Thursday reported a 39 percent  fall in quarterly operating profit and cut its full-year  outlook, battered by sluggish demand for microchips and mobile  phones.
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Samsung said Friday that second-quarter net profit fell 5 percent from a year ago on price declines for its mainstay computer memory chips, but expressed confidence a rebound in the market would bolster earnings.
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Samsung Electronics , the world's top memory chip maker, reported a smaller-than-expected 5 percent drop in quarterly profit on Friday after a steep fall in computer memory chip prices overshadowed improvements in flat screens.
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(InfoWorld) - Lenovo GroupÂ on Thursday reported a jump in third-quarter profits, even as its turnover during the period remained flat compared to one year ago. Lenovo reported a profit attributable to shareholders of $57.7 million on sales of $4 billion during its fiscal third quarter, which ended on Dec. 31, 2006. That's a 23 percent increase in profits compared to the same period during the previous fiscal year, whenÂ Lenovo reported a profitÂ of $46.8 million on sales of $4 billion, the company said in a filing with the Hong Kong stock exchange. On a sequential basis, the results show good news for Lenovo. The company saw its profit fall by 53 percent during the first half of its fiscal year -- from $91.2 million to $43.1 million -- compared to the year-ago period. Lenovo's PC shipments during the quarter increased 8 percent over the previous year, outpacing the industry average, which the company pegged at 7 percent, the filing said. As usual,Â China was a strong marketÂ for Lenovo, with PC shipments up 19 percent. The company also saw shipments rise by 3 percent in Europe, the Middle East and Africa. But Lenovo's PC shipments slipped 4 percent in North and South America due to weaker demand from large companies. Shipments fell by 1 percent in the Asia-Pacific region, excluding China, Hong Kong and Taiwan. Around 52 percent of Lenovo's revenue came from notebook PCs, as unit shipments rose 20 percent over the previous year, Lenovo said in a press statement. Desktop shipments rose 2 percent, contributing 43 percent of the company's total revenue. The remainder of Lenovo's revenue came from the sale of mobile phones, which contributed 4 percent of revenue. Handset shipments fell by 6 percent compared to the previous year, Lenovo said.
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Computer chip maker Infineon Technologies AG posted a 10 percent drop in net profit for the fourth quarter after taking large charges to cover potential civil claims from US and European antitrust actions, the company said Tuesday.
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Sony Corp. 6758.T shares fell to a   2-1/2-month low on Monday after Toshiba Corp. 6502.T and   Fujitsu Ltd. 6702.T joined the list of PC makers recalling   Sony-made batteries, increasing potential damage to its   earnings.
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Lenovo Group has signed a five-year deal with IBMÂ to provide services and support to its customers. The deal, outlined in a filing with the Hong Kong stock exchange Tuesday, could be worth up to $245 million for IBM over the term of the contract.
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The virtualization market leader saw its stock price drop sharply after reporting fourth-quarter financial results that fell short of Wall Street's profit forecasts.
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IBM's personal computer business, which it is selling to Lenovo Group of China, has lost money for the past 3 1/2 years.
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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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Samsung Electronics , the world's top memory chip maker, reported a smaller-than expected 5 percent drop in quarterly profit on Friday as a steep fall in computer memory chip prices overshadowed improvements in flat screens.
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Lenovo Group Ltd., the world's No. 4 personal computer maker, said Wednesday its profits grew nearly sevenfold in its latest fiscal year as it boosted sales and restructured following its acquisition of IBM Corp.'s PC unit.
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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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Recall makes Lenovo the fourth major PC manufacturer to haul notebooks back due to battery issues.
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The acquisition of IBM&#39;s personal computing division by China&#39;s Lenovo Group is seen having little impact on the Indian market in the short- or medium-term, analysts and industry officials said.