Motorola has not met the expectations of Lenovo

Motorola has not met the expectations of Lenovo

This recognition underscores why Lenovo decided to phase out the Motorola brand, as previously revealed in this year, and instead focus on the use of its own brand.

Chinese company Lenovo acquired Motorola from Google in late 2014 for $ 2.91 billion, however, it seems, the Chinese manufacturer is not quite satisfied with my purchase. Lenovo today published the annual report on the profits, which says that Motorola “does not meet expectations”.

Motorola has not met the expectations of Lenovo

This recognition underscores why Lenovo decided to phase out the Motorola brand, as previously revealed in this year, and instead focus on the use of its own brand.

Lenovo has shipped 66.1 million smartphones for the full year and 10.9 million units in the last quarter of the period. The firm said that Motorola’s devices were only five million, which is lower than planned.

Lenovo said that they have learned from their work with Motorola. The company restructured its business in March with the appointment of the two co-managers for its mobile business – one will manage the company’s activities in China, and the second will run the business in the global market.

Lenovo has closed the financial year with a net loss of $ 128 million on revenue of $ 44.9 billion, down 3% compared to the previous year. However, in the fourth quarter, income rose by 80% year on year, and net income was $ 180 million.

The company said that the optimization of business – including the dismissal of staff – helped save $ 690 million expensed in the second half of the year, and was the cause of greater profit for the fourth quarter.

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