Lenovo returns to profitability
Hong Kong: Lenovo Group, which had slipped to fourth slot among global PC makers, returned to profitability in Q4 of the current year. Lenovo posted a net profit of US$60 million in the January to March quarter compared with a loss of US$116 million a year earlier.

Lenovo's losses have been mainly due to its underperforming Japanese and U.S. arms.

In 2005 Lenovo bought out IBM's PC division for $1.25 billion. , will now grapple with a galvanised Acer Inc., which replaced the Chinese firm as the world's third-largest PC maker in the January-March quarter.

Lenovo faces tough competition from US based computer maker Dell, which has introduced a PC for as little as 2,599 yuan ($340) in China the world's second-largest PC market and Lenovo's home turf.
Back to News Review index page  

Alan Greenspan says fears fall in Chinese stocks
Madrid: Former U.S. Federal Reserve Chairman Alan Greenspan said the recent boom in Chinese stocks could not last. Saying the boom was clearly unsustainable Greenspan added he feared a dramatic contraction at some point.

The main Shanghai index has nearly tripled in past year and is up 56 percent so far in 2007.

Greenspan said a correction in stocks could cause problems for Chinese personal wealth. Greenspan said cheap Chinese imports were one of the factors pushing world growth, along with Eastern European workers and the knock-on effects on lower inflation and rates.

He also said that the world as a whole has been growing faster in the fast five years than at any time in the world's history and added that the growth cannot last and won't last.
Back to News Review index page