For the first quarter of the financial year, 2017 Lenovo has published revenue result which indicates improvements in profit with new products despite the decline in the industry. The company reported 6 percent decrease in quarterly revenue to $10.1 billion but increase in net income of 64 percent to $173 million. It suggests the decrease is because of company’s individual business groups.
Lenovo said its DCG business continues to face taut challenges in the market. The company’s PC and smart device business group were down 7 percent to $7 billion which includes PCs and tablets despite the growth in the tablet business. The mobile business group and the Datacenter business group reported a loss of 1.7 billion and 64 million respectively.
Yuanqing Yang Chairperson and CEO of Lenovo said, their PC business registered a profit and the smartphone business soothed in comparison to last quarter. They have significantly improved through strong execution and innovative products despite the challenges of macro economy and industry. The PC market is still a $230 billion market, while marketable devices are budding to supply for the mobile workforce, the PC is still an introductory device for the office and business. To resume growth the company is planning on focusing high growth segments while not neglecting the PC market.