lenovo group ltd-adr (LNVGY) Key Developments
Xiaomi Tech, MEIZU to Face Lawsuit for Patent Infringement
Nov 20 14
Foreign media said that Microsoft, Nokia and Ericsson will sue Xiaomi Tech and MEIZU for patent infringement. Defendants also included other mobile phone makers in China, because big sales volume recorded by Xiaomi Tech has aroused attention from foreign peers. Founded in 2010, the company has become Chinese biggest and global third biggest mobile phone makers, worrying international rivals. That is why they decided to sue Chinese companies for patent infringement. Although Lenovo Group, Huawei Technologies and ZTE are also included in defendant list, they hold their independent patents while Xiaomi Tech and MEIZU have nothing. Hence, it is still unknown how serious their parent infringement will be. One thing is certain. They will face a tough nut once their patent infringement is confirmed.
Lenovo Group Announces Earnings Results for the Second Quarter Ended September 30, 2014
Nov 14 14
Lenovo Group announced earnings results for the second quarter ended September 30, 2014. For the quarter, the company's revenue was USD 10.5 billion, a 7% increase year-over-year. Second quarter profit grew even faster with pre-tax income increasing 24% year-over-year to USD 329 million, while earnings grew 19% year-over-year to USD 262 million. Operating profit for the quarter grew 29% year-over year to USD 365 million. Basic earnings per share for the second fiscal quarter was 2.52 cents.
BlackBerry May Not Enter China Market Immediately
Nov 14 14
BlackBerry Limited (TSX:BB) is not looking to enter the China Market immediately, John Chen, Chief Executive Officer of BlackBerry said. Instead, the company is keen on expanding in India and Southeast Asian countries like Indonesia, Malaysia and Singapore, John Chen said. Blackberry shares have also fluctuated in recent weeks on rumors of a potential acquisition offer from Chinese hardware giant Lenovo Group Limited (SEHK:992).
Fixnetix Selects Lenovo Servers for Global Bank Customer
Nov 13 14
Lenovo announced that Fixnetix, chose Lenovo as its x86 server technology partner for its managed services contract at one of global banks. The estimated USD 3.5 million deal, includes 700 System x3650 M4 servers, upgraded maintenance and flexible financing. Fixnetix turned to Lenovo for its innovative and reliable x86 server technology, flexible cost model, and outstanding service and support. Lenovo's responsiveness and demonstration of technical expertise was also highly valued. The System x server platform, with industry leading serviceability and manageability, was deemed the ideal platform to meet the client's aggressive service level agreement. The versatile System x3650 M4 blends outstanding uptime and performance for business-critical workloads, including cloud computing, virtual desktop and business analytics. The server offers an energy-smart and easy-to-use rack solution with a pay-as-you-grow design to help manage risks. With more computing power per watt and the latest Intel Xeon E5-2600 v2 series processors, advanced memory support, and greater disk capacity for businesses requiring ample storage, the x3650 M4 offers balanced performance and density.
BlackBerry Seeks Partnerships In China
Nov 11 14
BlackBerry Limited (TSX:BB) is interested in partnerships in china. John Chen, Chief Executive Officer of BlackBerry said that he already met Yang Yuanqing, Head of Lenovo Group Limited (SEHK:992), Lei Jun, Chief Executive Officer of Beijing Xiaomi Technology Co. Ltd. and Cher Wang, Chairwoman of HTC Corporation (TSEC:2498) "I’m here this time to look at what opportunities there may be. We have not really focused on this market. It’s a huge market but it’s a very highly competitive market too,” John Chen added.