Lenovo swallows tasty profit
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Waves goodbye to Mary Ma, says hello to US Chinese computer firm Lenovo said its profits grew by more than 600 per cent in the fourth quarter.â¦
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Shares in Lenovo , which bought IBM's ailing personal computer business in 2005, dived more than 14 percent on Wednesday after a broker cut the Chinese firm to sell on growing fears of a U.S. recession.
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Advanced Micro Devices reported a larger-than-expected loss but showed progress in curbing its expenses and capturing a share of strong demand for personal computers.
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Lenovo Group said Wednesday it has acquired a majority stake in International Business Machines Corp.'s personal computer business for $1.25 billion, one of the biggest Chinese overseas acquisitions ever.
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Waves goodbye to Mary Ma, says hello to US Chinese computer maker Lenovo said its profits grew by more than 600 per cent in the fourth quarter.â¦
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China's biggest computer maker, Lenovo Group, said today it has acquired a majority stake in International Business Machines Corp.'s personal computer business for $1.25 billion, one of the biggest Chinese overseas acquisitions ever.
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China&#039;s Lenovo Group Ltd. said Thursday its net profit fell 85 percent in the company&#039;s first fiscal year since it bought IBM&#039;s personal computer business.
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Profits at Intel soar even as competition from smaller rival Advanced Micro Devices forced chip prices lower.
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Plus: TiVo posts small profit...Novell reverses year-earlier profit...Lenovo posts 2006-07 net surge.
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Japanese electronics group Toshiba Corp  posted a worse-than-expected 25 percent drop in quarterly operating profit after tumbling flash memory chip prices ate into margins.
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By Lillian Liu  HONG KONG: Lenovo Group Ltd, China's top personal computer (PC) maker, has posted its best quarterly results since purchasing IBM's PC arm in 2005.
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TOKYO - China's Lenovo Group Ltd. signed a definitive agreement on Wednesday to acquire IBM Corp.'s personal computing division. Lenovo will pay US$1.25 billion in cash for the business, which is expected to transform it into the world's number three PC maker, the companies announced.
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Lenovo Group Ltd.  posted its strongest pace of quarterly earnings growth since it bought IBM's loss-making PC arm in 2005, as the world's No. 3 PC maker cemented Asian market share and held costs down.
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The shares sold by IBM represent 3.5% of Lenovo's outstanding shares and are worth HK$960 million.
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Plus: Lenovo posts 2006-07 net surge...HP sales up on PC strength...Sony loss widens, but upturn seen ahead.
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Squeezed at home, China's biggest computer maker, Lenovo, is buying IBM's money-losing PC business. But venturing abroad is fraught with risk
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Lenovo will pay $1.25bn (Â£647m) in cash for the business, which is expected to transform it into the world&#39;s number three PC maker.