The 2011 purchase of Motorola was mostly a means by Google to get approximately 17,000 patents in order to defend themselves from the numerous lawsuits that were occurring at the time. However, things have significantly quieted down on the legal front and Google is now auctioning some battery-related patents from the purchase.
January 14, 2016
November 12, 2015
Lenovo suffers Q2 loss, no thanks to smartphone sales and Motorola acquisition
Despite a 16% year-on-year growth of revenue to $12.2 billion, Lenovo has just announced its first quarterly loss in six years. In its fiscal Q2 earnings results, the manufacturer blames both the competitive nature of the smartphone market and the restructure following its finalized Motorola acquisition for its losses.
Before tax, Lenovo lost around $324 million on unsold smartphone inventory and $599 million to “restructuring costs”.
The official HKFRS losses were driven by the realignment plans Lenovo disclosed during its Q1 results, including worldwide expense reduction actions across all businesses, the integration of the System x Business, the organization and brand alignment of Motorola and the Lenovo Mobile Business Group and clearance of smartphone inventory.
It’s not entirely bad news for Lenovo though. The addition of the Motorola brand has meant the company saw a year-on-year sales increase of 104% of in its Mobile Business Group. It sold $2.7 billion worth of smartphones, Android tablets and TVs. $1.4 billion of those were Motorola sales. Most of this growth is down to sales outside of China. Across the first two quarters of its financial year, 70 percent of its mobile products were purchased outside Chinese borders. This time last year, that figure was just 19 percent.
Unlike the rest of the tablet industry, Lenovo’s sales actually grew, selling 18.8 million units, up 11 percent from last year.
Despite making a loss last quarter, Lenovo is convinced that the mobile division will return to money making ways after the next couple of quarters. With the rise of competitive and affordable products from other brands, it’ll be a tough challenge. But, with the likes of the Moto G, Moto X and new DROIDs in its lineup, the company certainly has the hardware to compete. What’s more, it just opened its very first boutique retail store in Chicago to help boost high street presence.
October 2, 2017
Google is a massive company that does a lot of things. Because of that, it is in the spotlight for a lot of issues, and one that continues to come up is privacy. In a recent interview, Google’s CEO discussed how the company intends to keep improving privacy, as well as several other matters.
Deal: Get Pixelbook at 25% off: $750!
May 26, 2016
Lenovo has now published its financial earnings report for the final quarter of its 2015/16 fiscal year, ending in March. Highlights for the Hong Kong-based company include full year revenue of $44.9 billion, with Q4 revenue of $9.1 billion, which is down 19% on the same quarter last year. On the whole, it was a fairly uneventful quarter, but Lenovo recognizes its bid to bring in Motorola hasn’t gone as smoothly as planned.
May 21, 2015
August 14, 2014
Chinese company Lenovo, which is in the process of buying the Motorola brand from Google, has reported a 23 percent year-on-year increase in first-quarter profits to $214M, reports Reuters. The company also said that worldwide phone sales were up 39 percent, in line with recent IDC numbers.
While Lenovo recently became the market leader within China, CEO Yang Yuanqing said that the company will in future be focusing on more profitable overseas markets … expand full story