BEIJING (AP) — Computer maker Lenovo Group says its latest quarterly profit declined 5 per cent, reflecting its acquisition of the unprofitable Motorola mobile phone business.
Lenovo said Tuesday it earned $253 million, or $2.30 per share, in the three months ending in December. Revenue rose 31 per cent to $14.1 billion.
The profit decline reflected the integration of Motorola into Lenovo. The acquisition closed in October and Lenovo included two months of Motorola’s operations in its results.
Lenovo said its transformation into a supplier of a mobile devices and enterprise products was proceeding quickly.