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|31st May 2016, 21:16||#1|
Join Date: May 2010
Lenovo confident it can turn itself around
Lenovo is not having a good time of late as the declining use of the PC and its underperforming Motorola unit continues to give its bottom line a spanking.
The financial report for fiscal 2015 (April 2015-March 2016) shows the company recording revenues of $44.912 billion. This sounds pretty good, but is a decrease of three percent on what the outfit was collecting last year.
Still the company should be pleased that its gross margin of 14.8 per cent is up slightly by 0.4pp. However the net loss of$128 million is still pretty grim.
Lenovo sold 56 million PCs which was six percent less than last year. It sold 66 million smartphones which was down 13 per cent from the year before.
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