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HARDWARE FIRM Lenovo has reported not very good financial results, and the shedding of five percent of the workforce.
The firm revealed a 50 percent drop in net profits, when measured against the same period last year, and an 80 percent slide in pre-tax income, again against Q2 2014.
The firm spoke of the severe challenges and tough environment that it finds itself in, explaining that this led to a quarterly revenue increase of three percent to $107bn, the 80 percent drop in pre-tax income to $52m, and a 51 percent profit drop to $105m.
Gross profits increased by 22 percent to $1.6bn, while operating profit dropped 67 percent year over year to $96m.
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Hopefully, the people who lost their jobs can find jobs at other companies.
I guest, more people are building their own PCs, and buying things like smartphones and tablets from more affordable brands like Xiaomi, Huawei, and ZTE.
Also, people are probably holding onto their Windows 7 desktops, and laptops longer, or upgrading for free to Windows 10 instead of buying a new PC with Windows 10.
The firm revealed a 50 percent drop in net profits, when measured against the same period last year, and an 80 percent slide in pre-tax income, again against Q2 2014.
The firm spoke of the severe challenges and tough environment that it finds itself in, explaining that this led to a quarterly revenue increase of three percent to $107bn, the 80 percent drop in pre-tax income to $52m, and a 51 percent profit drop to $105m.
Gross profits increased by 22 percent to $1.6bn, while operating profit dropped 67 percent year over year to $96m.
Read More
Hopefully, the people who lost their jobs can find jobs at other companies.
I guest, more people are building their own PCs, and buying things like smartphones and tablets from more affordable brands like Xiaomi, Huawei, and ZTE.
Also, people are probably holding onto their Windows 7 desktops, and laptops longer, or upgrading for free to Windows 10 instead of buying a new PC with Windows 10.
