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Wednesday, 11 February 2009 13:43

Lenovo hopes to return to profitability in 2010

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Reports losses in all regions except China


Lenovo expects it will return to profitability next year, after the world's fourth largest PC maker posted a loss in the last quarter.

Before it gets back on track, Lenovo expects to incur more losses in 2009, and it won't pay any dividends to stockholders for the last fiscal year, nor the current one. It will start paying out dividends once it returns to profitability.

Last week Lenovo reported a $96 million loss and replaced its CEO William Amelio with Yang Yuanqing. Lenovo is still profitable in the Chinese market, but none of its other three business regions are turning a profit.

More here.

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