Lenovo Will ‘Definitely Not’ Be Buying HP’s PC Division

Posted on Sep 25 2012 - 7:13am by Editorial Staff

Lenovo logo1 Lenovo Posts Q1 2013 Earnings With Net Profit Of $141.4 Million, Beats Estimates

According to blog post Monday on ZDNet China citing Liu Chuanzhi, Lenovo’s parent company Legend Holdings chairman, says that the company from now onwards will stop acquiring hardware companies and will turn its focus to software and IT services only. He also said that the company will “definitely not” be buying HP’s PC division instead the company will keep a focus on enterprise software and IT services space.

Lenovo back in August only announced its Q1 2013 earnings with posting a 30 percent rise in quarterly net profit, beating analysts’ forecasts. The company posted a net profit of $141.4 million for its April-June first quarter, up from $108.8 million from a year earlier. The move will certainly help the company more in gaining momentum although only the time tells how much the predictions, estimations and sayings are correct.

 

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