Cost-Cutting Report Bolsters Lenovo Stock MOVERS MARKETPLACE By Bloomberg
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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, the world's No. 4 personal computer maker, said Thursday that profit in its third fiscal quarter rose 198 percent and forecast strong sales this year despite a possible U.S. economic slowdown.
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By Frank Norton, The News & Observer, Raleigh, N.C.  Feb. 22--Lenovo is hardly a household name in this country.
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Lenovo, China&#39;s largest personal computer maker, will pay US$1.75 billion (HK$13.65 billion) in cash, stock and assumed debt for IBM&#39;s struggling PC operations in a move that will make it the world&#39;s third-biggest PC manufacturer and fulfil its long-held
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By Anne Krishnan, The News & Observer, Raleigh, N.C.  Feb. 28--Lenovo might be planning 1,000 layoffs worldwide to cut costs in  the ultra-competitive PC market, according to newspaper and wire reports from  Asia.
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In unloading its personal computer business for $1.75 billion to a Chinese company, IBM managed to keep the division's most profitable pieces -- services and support. The onus is now on buyer Lenovo Group Ltd. to improve the businesses' notoriously thin profit margins, and the skeptics are many.
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NEW YORK, December 8  - International Business Machines (IBM.NYS) has decided to sell its personal computers business to Chinaâs Lenovo Group for $1.75 billion in a cash and stock deal.
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Chinese PC vendor Lenovo announced its acquisition of IBM&#39;s Personal Computing Division (PCD) for a combination of cash and stock totaling US$1.25 billion.
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NEW YORK - Stocks that were moving substantiall
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TOKYO - China's Lenovo Group Ltd. is in talks with a major international IT company regarding an acquisition, it said in an announcement to the Hong Kong Stock Exchange on Tuesday. The other party was not named.
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Itâs competition time for PC makers, and good news for price-sensitive consumers. Thatâs how industry gurus are assessing the scenario, after last weekâs sensational announcement of the deal between Chinese PC maker Lenovo Group and US-based IBM.
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China&#39;s Lenovo Group is in talks with a major international IT company regarding an acquisition, it said in an announcement to the Hong Kong Stock Exchange on Tuesday.
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Two years ago, I got an inside look at operations at Lenovo Group, the Chinese computing giant that is expected to form a joint venture with IBM to sell PCs worldwide.
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InfoWorld - 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.
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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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Ziff Davis - IBM's decision to sell its PC business to Chinese computer maker Lenovo Group Ltd. is offering lessons both in how to expand into emerging markets and how federal regulators will view such deals.
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IBM has reached an agreement in principle to sell its personal computer business to Lenovo, China&#39;s largest PC maker, in a deal valued at between $1 billion and $2 billion, people close to the negotiations said Monday.