PC sales also dropped 17 percent from last year which is certainly raising some red flags
Lenovo is one of the most trusted names in the PC business but as they delved into the mobile market, they tell a different tale. With at least $300-million worth of unsold phones and their $2.9 billion acquisition of Motorola last year, Lenovo experienced a $714 million net loss--a first for the company in six years.
Their PC sales also dropped 17 percent from last year which is certainly raising some red flags as this is their original turf. Thankfully even their competitors had experienced almost the same drop in sales. Ironically, their overall sales is actually better than last year's with $12.2 billion.
To lessen expenses and generate profit, Lenovo is letting go of around 3,200 jobs
As they also looked for ways to lessen expenses and generate profit, Lenovo is letting go of around 3,200 jobs. This will help them save at least $650 million this year. Admittedly, the company knows that they're facing quite a tough market environment compared to previous years. However, they're still quite confident about their decision of buying off Motorola.
In fact, outside of China, Lenovo's smartphone sales jumped from 19 percent to 70 percent, which is pretty impressive. An increase of 11 percent compared to last year's total mobile sales earned them 2.7 billion which made them quite confident in the game. Lenovo is still pretty optimistic that soon enough, their mobile efforts will produce better numbers especially with the Motorola brand under their belt.
When Apple Needs A Little Help From Google
The War Is Over: Xbox Live Lets You Play With PS4 Users
Is Lenovo A Dying Brand? Think Again!
Steam Taking Sales by Storm...From Amazon
Better Than One Plus One?
Is Bigger Always Better?
Thinking Ahead: Microsoft’s 11 New Devices
Intel Or AMD?
E3 Spotlight: Fallout 4
5 Awesome Things in Fallout 4's Announcement
Major tech trends and highlights from this year’s Mobile World Congress
Samsung Galaxy S9 and Galaxy S9 Plus: First Impressions and New Features
14 Cool Tech Gifts for Valentine’s Day
Living smart: Alexa-enabled smart home devices from CES 2018