Saturday, 17 November, 2018

Lenovo finalises deal for Fujitsu's client computing business

Lenovo Group 2Q Net Profit Down 11% On Higher Operating Expenses Lenovo and Fujitsu form a new joint venture to sell PCs
Kayla Schwartz | 02 November, 2017, 18:23

Lenovo today announced a new joint venture with Fujitsu and Development Bank of Japan that will focus on the R&D, design, manufacturing and sales of PCs in the global market. Lenovo along with Fujitsu first announced during October of a year ago they were discussing possible cooperation between their PC businesses.

As the domestic market is set to continue shrinking, Fujitsu, maker of the FMV PC series, is aiming to bolster its competitiveness by joining hands with Lenovo.

The decision came after Fujitsu said last month it was in talks with Lenovo over a potential deal, which pushed Fujitsu shares up by 7.8 percent. Fujitsu's computers hardly command a tangible share of the market in either regions, but given the fact that Lenovo sells its computers under its own and local trademarks in Europe and the USA, the future of Fujitsu-branded systems outside of Japan remains to be seen.

PC shipments climbed 17 percent from the previous quarter, allowing Lenovo to arrest the erosion in market share.

For the second quarter ending 30 September, Lenovo posted a 11 percent in profit down to $139m (£105m) as it admitted that market conditions remained challenging.

Ittefaq Preview: Sonakshi Sinha Or Sidharth Malhotra, Who Is Guilty?
Commercially, both Sidharth Malhotra and Sonakshi Sinha haven't really seen a very rosy time with their last couple of releases. Produced by Red Chillies Entertainment, the film has been inspired by the 1969 film of the same name.

A gain in taxation of more than $118 million helped Lenovo earnings to beat analyst estimates of $44 million. The former will pay up to ¥25.5 billion ($223.4 million), whereas the latter will pay up to ¥2.5 billion ($21.9 million) based on performance of FCCL to 2020. That was up a slight 1% from a year earlier, and took the company back into the black after reporting a loss in the previous quarter.

Despite the market dwindling, Yang Yuanqing Lenovo Chairm and and CEO said: "PC is still the core of Lenovo".

And even though PC shipments have grown by 17 percent from the past quarter, the market is still struggling in the era of smartphones.

The revamped company will, under current representative director and president Kuniaki Saito who retains his role, concentrate on the development and sale of Fujitsu-branded client devices - including traditional PCs and tablet computers - in the global market while giving the Chinese Lenovo a route into Japan.

"The combination of strong execution and building solid foundations continue to be Lenovo's strength", he concluded.

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