Lenovo looks to IBM unit for growth

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8 June 2005 – Hong Kong (CHN): Lenovo Group, one of the largest PC makers in the world, has reported a 12 per cent fall in Q4 profit.

The company reported a Q4 profit of HK$166 million (US$21 million), compared to HK$188 million a year earlier.

The report was the first for Lenovo since its US$1.25 billion acquisition of IBM’s PC assets. The company has said that it will look to its new PC unit to jumpstart growth by expanding abroad at a time of stiff competition and slowing growth in its domestic market.