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After Strong Q3, Lenovo Warns Acquisitions To Hit Short-Term Performance

Ron Burgundy

By Ron Burgundy,
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Ron Burgundy

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Boxes containing Lenovo desktop computers are seen in an office in KievBy Paul Carsten BEIJING (Reuters) - China's Lenovo Group Ltd said third-quarter profit jumped nearly a third, beating estimates, as the world's biggest maker of personal computers hoisted sales of smartphones in its drive to diversify out of the shrinking PC market. Lenovo later specified it will likely take three to five quarters to turn around the Motorola phone business it bought from Google Inc for $2.9 billion. Lenovo has been aggressively pushing into smartphones and servers to offset the global decline in the desktop PC business as consumers switch to mobile devices. Analysts see tougher times ahead, saying it may take the company at least a year to turn around its acquisitions.




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