LENOVO TO TAKE COST-SAVING MEASURES FOR PROFIT
AsiaInfo Services, June, 2005
AsiaInfo Services 06-16-2005 Lenovo to Take Cost-Saving Measures for Profit CHINA, Jun 16, 2005 (SinoCast via COMTEX) -- After Lenovo finished its acquisition of IBM's PC division in May, it currently plans to take cost-saving measure to turn loss into profit within one year. Liu Chuangzhi, pre-chairman of Lenovo, discloses that the acquisition is favorable for Lenovo to obtain more profit.
According to him, there is large space for Lenovo's cost savingfor the moment. In this way, Lenovo is likely to profit the next year, now as the third biggest PC manufacturer in the world. In addition, the current chairman, Yang Yuanqing, says that they intend to raise Lenovo's market shares in a large scale within the next five years. In the first quarter of this...
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