Profit expected
15/6/2005 13:20
The founder of Chinese personal computer maker Lenovo Group Ltd said
yesterday he expects to see a profit soon from the loss-making PC division of
International Business Machines Corp, which Lenovo purchased earlier this year.
We expect the business to turn around in about one year, said Liu Chuanzhi,
president of Lenovo's parent, Legend Holdings Ltd. After the merger, he found
that the company could reduce operating costs more than expected. Liu, who was
formerly also the chairman of Lenovo, became a non-executive director when
management of the listed company was reshuffled after the IBM purchase.
Shanghai Daily/Agencie
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