Lenovo Returns To Profitability, Almost Breaks Even On MotorolaBy cheatmaster 12:17 Sat, 31 Jul 2021 Comments
Lenovo just did what Google could not - it broke even on Moto phones. The Mobile Business Group (which combines Lenovo and Motorola phones and tablets, plus smart TVs) posted quarterly sales of $3.2 billion (down 4% YoY).
Motorola contributed $2 billion to that and saw shipments rise 25% quarter on quarter. Lenovo didn't quite break even though, it posted $30 million in pre-tax loss.
As for phones bearing the Lenovo brand, they saw a huge rise in India and Indonesia (doubling and tripling sales) with 83% of sales coming from outside of China.
It's not all fine news, though, total smartphone volume fell 18% to 20.2 million units sold. In case you haven't heard, Lenovo will merge its smartphone brands and Motorola will soon become Lenovo Moto, joining the Lenovo Vibe brand.
The company as a whole returned to profitability with $300 million net income on a revenue of $12.9 billion (down 8% YoY, 2% in constant currency).
Source | Via
Please LOGIN or REGISTER To Gain Full Access To This Article