Tuesday, June 14, 2005

Lenovo Expects Profit from IBM in One Year

From BusinessWeek: Lenovo Group Founder Expects Profits Soon

"The founder of Chinese personal computer maker Lenovo Group Ltd. said Tuesday he expects to soon see a profit from the loss-making PC division of International Business Machines Corp., which Lenovo purchased earlier this year.
"We expect the business to turn around in about one year's time," Liu Chuanzhi, president of Lenovo's parent company Legend Holdings Ltd., told reporters at the Pacific Basin Economic Council meeting in Hong Kong."

"The US$1.25 billion (euro1.3 billion) acquisition made Lenovo the third-largest PC maker in the world. Though Lenovo was already the leading computer maker in its home market of China, the IBM business is three times larger than Lenovo's legacy operations."

Read more:
Microsoft's Red Menace: IBM-Lenovo Deal Could Threaten Bill Gate's Empire
Lenovo Moves Into Global PC Top Ranks
Lenovo Group tops China's PC market in the first quarter


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