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Lenovo Q4 revenues fall 19% after drop in smartphone sales

2016-05-26 11:56:00| Telecompaper Headlines

(Telecompaper) Lenovo reported revenues for its fiscal fourth quarter to March down 19 percent year-on-year to USD 9.133 billion, as the company suffered from the slowdown in the PC market and falling mobile phone sales. Operating profit still improved, by 95 percent to USD 248 million, thanks to restructuring and cost-cutting efforts, and net profit was up 80 percent to USD 180 million. The company maintained its dividend at HKD 0.25 per share. The group shipped 10.9 million smartphones in the quarter and 66.1 million over the full year, down 13 percent. Lenovo said that while it achieved its goal of mobile profitability within 18 months of the acquisition of Motorola Mobility, the "integration efforts did not meet expectations". In particular, China shipments declined 85 percent, as the company failed to keep up with the shift to open-market sales and competition from premium brands business. In North America it also suffered from a poor product transition, missing the key year-end sales window for new products.

Tags: sales fall drop revenues

OnePlus Offers Free Headsets to Lure Crowd to VR Smartphone Launch

2016-05-25 16:00:00| TechNewsWorld

The 30,000 virtual reality headsets OnePlus announced it would give away as part the unveiling of its OnePlus 3 smartphone were snapped up Monday, the day they became available. OnePlus has set up a VR space called "The Loop" in which it will unveil the OnePlus 3. The Loop can be accessed only by users of the OnePlus Loop VR headsets, made by AntVR.

Tags: free offers launch crowd

Microsoft culls what little is left of its smartphone business

2016-05-25 02:00:00| Total Telecom industry news

Another 1,350 Finnish jobs to go; $950 million impairment charge slated for fiscal fourth quarter.

Tags: business left microsoft smartphone

Latest smartphone sales data is grim news for Windows Phone, BlackBerry Priv

2016-05-24 20:24:16| Extremetech

The latest smartphone sales reports are grim news for both Microsoft and BlackBerry. Sales of both company's mobile products have fallen off a cliff, with sharp declines in purchasing over the past year, despite major launches from both firms.

Tags: news data phone sales