The Chinese computer manufacturer Lenovo Group reported on Thursday that it concluded the first fiscal quarter with a profit due to a sharp increase in revenue and strong results in the personal computer business.
In the quarterly period ending in June, the Chinese company operated with a net profit of 77 million dollars. In the same period last year, they recorded a net loss of 72.3 million dollars, pressured by higher costs due to component shortages.
>>>Lenovo concluded the fiscal year with the largest loss since 2009.
Group revenues jumped 19 percent to 11.91 billion dollars, marking a double-digit growth rate for the second consecutive quarter.
– The group remains confident that it will achieve good results in the personal computer business and aims for higher revenue growth compared to the overall market, while also ensuring profitability, said CEO Yang Yuanqing.
The Chinese company also emphasizes that it has reduced operating costs in the mobile devices division by more than 100 million dollars, adjusted its product portfolio, and focused on markets where it can operate profitably.
