China’s Lenovo posts Q1 profits but revenues slide

  • TECH Premium
  • Thursday, 18 Aug 2016

A Lenovo logo is seen at the computer mouse in Kiev, Ukraine April 21, 2016. REUTERS/Gleb Garanich

HONG KONG: Chinese technology giant Lenovo reported higher profits in the first quarter thanks to cost cutting, but sales of PCs and smartphones continued to struggle. 

The company’s share price rose 3.55% to HK$5.54 (RM2.85) in morning trade after it announced net profit was up 64% year on year at US$173mil (RM691.21mil).  

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Tech News

Cryptocurrency exchange Coinstore enters India despite pending curbs on trade Premium
Amazon to open Abu Dhabi fulfilment centre by 2024, says govt media office Premium
DeFi: Over US$10.5bil of cryptoassets stolen this year Premium
Barcelona has installed speed cameras for cyclists Premium
PlantLife, the TikTok for plant-lovers Premium
First ‘robotaxis’ enter service in Beijing Premium
Xiaomi to open car plant in Beijing with annual output of 300,000 vehicles - Beijing govt Premium
India tells public to shun Musk-backed Starlink until it gets licence Premium
Not for the faint hearted: 'Happy Game' is anything but Premium
El Salvador ‘Bought the Dip,’ Acquiring 100 More Bitcoin Premium

Others Also Read