Lenovo Group Ltd. posts disappointing revenue reports
November 9th, 2006 Leave a comment Visited 30 times, 1 so far today
Lenovo Group Ltd. posts disappointing revenue reports
China based PC manufacturing giant Lenovo Group Ltd. has posted 16 percent slide in quarterly earnings. The company continues to dominate the home market of china but has somewhat failed to benefit out of their acquisition of IBM’s personal computer division.
Market analysts believe that Lenovo is failing to gain brand recognition among consumers outside of Asia. It is also facing intense competition from global giants like Dell and Hewlett Packard.
The company earned US$38.09 million in the second fiscal quarter ended September. This is down from figures of US$45.2 million a year ago.
Lenovo also continues to lose market share in major international markets — due to a lack of brand recognition and consumer exposure.
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