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).  

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