Lenovo profits rise

CLOUD COMPUTING: Lenovo invest in innovation.

FORGET Apple and Dell, the largest pc computer maker in the world, China’s Lenovo, has revealed strong profits for the first quarter of 2016 with an increase of 64 per cent to $173 million (€153 million) although its overall turnover has dropped 6 per cent year on year to $10.1 billion (€8.94 billion).

The group is pleased with the latest results considering there has been a slowdown in the general market for personal computers, especially due to the problems that the Chinese economy has been facing.

Whilst the group is investing heavily in the growing area of what is known as cloud computing, it has been cutting costs whilst seeing strong results from both the pc and smartphone businesses.

By taking the actions it has done, the company managed to accept a drop in turnover yet increase its profits.

Founded in China in 1984 the company saw considerable expansion after it bought IBM personal computer business 20 years later. With headquarters in China and the USA it now trades in some 160 countries.

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