Lenovo expects to turnaround Motorola’s fortunes in a few quarters
Lenovo’s Motorola Mobility acquisition might not be complete but the Chinese giant is already making plans on how to make Motorola profitable.
The company told Bloomberg that it expects to end Motorola’s losses in the matter of quarters after the deal is complete. “In a few quarters we can turn around the business,” Lenovo CEO Yang Yuanqing stated in an interview.
The company has not given specifics on how it plans to do that but it seems pretty confident. To remind you, Motorola had an operating loss of more than $1 billion in 2013, so Lenovo really need to have a few tricks up its sleeve.
Yang revealed that Lenovo plans to re-launch Motorola brand in China and other emerging markets and will complete in the premium segment. He added that if premium segment isn’t enough, they will even go for budget devices. So, we can expect to see Motorola smartphones across the price-brackets under Lenovo.
Lenovo posts third fiscal quarter results, smartphone shipments jump 47 pc
In related news, Lenovo has announced the third fiscal quarter (fourth calendar quarter) financial results earlier today and there is a 30 percent year-on-year jump in profits.
On the devices front, Lenovo is reporting the smartphone shipment in excess of 13.9 million and 3.4 million tablet shipments. Both have increased handsomely.
Lenovo might have just posted its highest-ever quarterly revenue of $10.8 billion but warned that quarters following Motorola acquisition will be lower.