• Friday, October 09, 2015

Lenovo aims to sell 100m smartphones before end of 2015

Staff Reporter 2014-02-16 09:08 (GMT+8)
Yang Yuanqing at a press conference in Hong Kong. (File photo/CNS)

Yang Yuanqing at a press conference in Hong Kong. (File photo/CNS)

Lenovo has vowed to sell more than 100 million smartphones before the end of 2015, our sister paper, our sister paper Commercial Times reported on Feb. 14.

"The first thing we worked on after we merged with Motorola was to decrease our outcome and make our products more competitive by combining some of them," said Yang Yuanqing, Lenovo CEO.

Lenovo announced during the press conference that the company earned more than US$10 billion during the last quarter. During the event, Motorola's latest financial report was highlighted as the company is experiencing a deficit, as Lenovo's shareholders were worried about the company being impacted by Motorola.

Yang said that he is confident that he can make Motorola profitable over the next few quarters, while Lenovo is looking towards the North America and Latin America markets, Motorola's priority markets, along with another plan to return to the Chinese market.

Huang Weiming, Lenovo's CFO, said that the company has total liquid assets of approximately US$2.9 billion. "We have no need to finance anything at this moment," he said.




Yang Yuanqing  楊元慶

Huang Weiming  黃偉明

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Xu Lirong (許立榮)

Xu Lirong has been chairman of China Shipping Group (COSCO) since November 2013. Xu holds an MBA degree from Shanghai Maritime University and is a certified sailor and senior engineer. He has ...