Off the wire
Xi offers condolences over Sri Lanka floods, landslides  • Finnish study shows prenatal exposure to air pollution increases risk of stillbirth  • China appreciates position of Vanuatu, Lesotho, Palestine on South China Sea issue  • Shanghai to get upmarket Starbucks' Roastery, Tasting Room  • More than 600,000 people migrated into Britain in 2015:ONS report  • China to bolster representativeness of developing countries at G20 summit  • Weather forecast for major Chinese cities, regions -- May 26  • Weather forecast for world cities -- May 26  • Torrential rain continues in south China  • Guangdong reports new human H7N9 case  
You are here:   Home

Lenovo suffers loss in 2015 as global PC demand shrinks

Xinhua, May 26, 2016 Adjust font size:

China's Lenovo Group reported lackluster financial performance last year due to sluggish global PC demand.

The world's largest PC maker raked in about 44.9 billion U.S. dollars in revenue last year, down 3 percent year on year and suffering a net loss of 128 million U.S. dollars, according to its financial report released Thursday.

Lenovo reported net profits of 829 million U.S.dollars in 2014.

The company attributed the revenue drop to foreign exchange rate fluctuations, a slowdown in the global PC market and investment to revive the Motorola smartphone business it acquired in 2014.

Income from PC business fell by 11 percent to about 30 billion U.S.dollars. Smartphone sales reached 66 million units, down 13 percent year on year.

Lenovo's smartphones posted strong sales growth in Europe, the Middle East and Africa, while Chinese and North American markets dragged down its overall growth.

International rating firm Fitch expected only low-single-digit growth in global smartphone sales in 2016, following 10-percent growth in 2015, and predicted PC sales would decline by 3 to 5 percent. Endi