26 May 2016

Lenovo Announces Fourth Quarter and Full Year 2015/16 Results

 
  • Full year revenue US$44.9 billion, down 3% YoY; Q4 US$9.1 billion, down 19% YoY
  • Restructuring delivered US$690 million in 2nd half of the year, preserving profit
  • Full year pre-tax loss US$277 million; Q4 pre-tax income of US$193 million, up 86% YoY
  • Full year net loss of US$128 million; Q4 net income of US$180 million, up 80% YoY
  • Full year basic loss per share of 1.16 US cents, or 9.00 HK cents
 
HONG KONG, May 26, 2016 – Lenovo Group today announced results for its fourth fiscal quarter and full-year ended March 31, 2016. Lenovo strengthened its core PC business, enhanced its cost structure and protected its profit, despite facing internal and external challenges that impacted revenue, which was US$9.1 billion, down 19 percent year-over-year, while annual revenue was US$44.9 billion, down 3 percent year-over-year. At the same time, the largest restructuring program in Lenovo’s history delivered a better cost structure with US$690 million of savings in the 2nd half of the year, sending 4th quarter PTI up 86 percent year-over-year to US$193 million. Annual loss before tax was US$277 million. Fourth quarter net income was up 80 percent year-over-year to US$180 million, while full year net loss was US$128 million, even after US$330 million in non-cash M&A related accounting charges.
10 May 2016

Lenovo Names New EMEA President

Lenovo today announced that Luca Rossi, currently President of Lenovo’s business in Latin America (LATAM), will succeed Eric Cador as President of the company’s business in Europe, Middle-East and Africa (EMEA).  Moving forward Luca will lead both LATAM and EMEA.  
09 May 2016

Lenovo to Host Second Annual Tech World with Industry Tech Giants

RESEARCH TRIANGLE PARK, NC - May 9, 2016: Lenovo today announced that #LenovoTechWorld, the company’s strategic technology conference, comes to San Francisco on June 9, 2016. The second annual conference brings together some of the industry’s top leaders along with Lenovo chairman and CEO Yang Yuanqing for the keynote address where they’ll probe the most promising and emerging topics in innovation, including virtual reality, smart connected devices/IoT and harnessing the power of the cloud to transform people’s lives. Lenovo will be joined by fans, media, influencers, press, analysts and other guests from around the world.
06 May 2016

Lenovo Capital and Incubator Group Created to Advance Core Technology Investments

BEIJING, CHINA ? May 4, 2016: Lenovo today announced the launch of Lenovo Capital and Incubator Group (LCIG) to integrate its global resources, enhance its Internet services and intelligence ecosystem via investments and foster innovation within and outside of Lenovo. LCIG will invest in core-technology and Internet related areas globally, investing $500 USD million initially in projects through the Lenovo Capital Phase II Investment Fund, which will focus on areas including cloud computing, big data, artificial intelligence, robotic and Internet services. Yuanqing Yang, Lenovo chairman and CEO, and Zhiqiang He, Lenovo SVP, CTO and LCIG President launched the Group and Fund today at an event in Beijing. 
06 May 2016

Lenovo Capital and Incubator Group Created to Advance Core Technology Investments

BEIJING, CHINA May 4, 2016: Lenovo today announced the launch of Lenovo Capital and Incubator Group (LCIG) to integrate its global resources, enhance its Internet services and intelligence ecosystem via investments and foster innovation within and outside of Lenovo. LCIG will invest in core-technology and Internet related areas globally, investing $500 USD million initially in projects through the Lenovo Capital Phase II Investment Fund, which will focus on areas including cloud computing, big data, artificial intelligence, robotic and Internet services. Yuanqing Yang, Lenovo chairman and CEO, and Zhiqiang He, Lenovo SVP, CTO and LCIG President launched the Group and Fund today at an event in Beijing.