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☆ Here's what tech giants are betting on next — from robot dogs to smartphones you can wear on your wrist
▼ + stars: | 2024-03-01 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Arjun Kharpal | CNBCThe Mobile World Congress, the world's largest mobile show, is a place where device makers show off some of their latest innovations. Arjun Kharpal | CNBCTecno showed off an augmented reality glasses product with a video game controller attached. Arjun Kharpal | CNBCXiaomi has spent years talking up its smartphones' camera capabilities. Arjun Kharpal | CNBCChinese firm Tecno showed off a robot dog. Arjun Kharpal | CNBC

Persons: Arjun Kharpal, It's, There's, Oppo Oppo, Kharpal, CNBC Tecno, CNBC Xiaomi, German Shepherd, Tecno Organizations: Mobile, CNBC, Congress, Motorola, China's Lenovo, CNBC Lenovo, Samsung Galaxy, Samsung, CNBC Samsung Locations: Barcelona, Spain, Korean, German

☆ HP, Dell and Lenovo among 27 firms granted approval to manufacture tech hardware in India under incentive scheme
▼ + stars: | 2023-11-21 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Chinas Realme closing in on market leaders Xiaomi, Samsung, yet hurdles loom in treacherous market where many stumbled. Under the PLI Scheme 2.0 for IT hardware, which was approved by the government in May, India will provide companies incentives for goods manufactured in the country. The Indian IT hardware market is expected to grow to $22.77 billion in 2027 from $15.52 billion in 2022. "The IT Hardware manufacturing sector faces the lack of a level playing field vis-à-vis competing nations ... There is need for a mechanism to compensate for the manufacturing disabilities vis-à-vis other major manufacturing economies," according to the ministry.

Persons: Chinas, Anindito Mukerjee, Vaishnaw Organizations: Xiaomi, Samsung, Bloomberg, Getty Images, Dell, HP, Lenovo, Asus, Ministry of Electronics, of Railways, Communications, Electronics Locations: Greater Noida, India, Indian

☆ Lenovo posts another revenue decline as PC demand remains slow
▼ + stars: | 2023-11-16 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

In May, Lenovo reported 14% revenue decline for the year through March, its first annual fall since 2019, following a pandemic-induced boom for electronics manufacturers. Worldwide PC shipments fell 7% in the second quarter of 2023, showed data from researcher Canalys. To help lift PC sales, Lenovo aims to release its first "AI PC" - or PC that can make use of artificial intelligence (AI) without the internet - in the second half of next year, said Chairman Yang Yuanqing. An employee gestures next to a Lenovo logo at Lenovo Tech World in Beijing, China November 15, 2019. Overall net income attributable to shareholders in the second fiscal quarter fell 60% to $249 million versus analysts' $235 million estimate.

Persons: Canalys, Yang Yuanqing, Yang, Jason Lee, it's, Josh Ye, Christopher Cushing Organizations: Lenovo Group, HK, LSEG, Lenovo, PC, Reuters, Lenovo Tech, REUTERS, Nvidia, Thomson Locations: HONG KONG, Beijing, China, U.S, Hong Kong

☆ PC demand is back, says Acer CEO who sees robust growth in the 'foreseeable future'
▼ + stars: | 2023-10-20 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

"We have seen the demand reach the bottom during about the May timeframe this year and ever since that, the demand has come back. For Q3, we have already seen year-to-year growth," chairman and CEO Jason Chen told CNBC's Emily Tan. Acer is the world's fifth-largest player in the PC market with a 6.4% market share, according to Canalys. But the boom in PC sales came to an end, when global PC shipments declined sharply in the first quarter of 2022. "PCs today, together with the display business, monitor business, is contributing about two-thirds of our business.

Persons: Jason Chen, Emily Tan, Chen Organizations: Lenovo, HP, Dell, Apple, Acer Locations: Taiwan, China, Southeast Asia, Japan, Korea, India

The officials inspected laptops of Lenovo employees during the visit, one of the sources said. They also tried to contact Lenovo's senior management during and after the visit as part of the inquiry, the person added. Lenovo, which confirmed the visit, said it was "co-operating with the authorities and will provide all possible support required". Earlier in the day, Reuters reported that tax officers also visited the facilities of contract manufacturer Flex Ltd in Tamil Nadu state. Reporting by Munsif Vengattil in Bengaluru and Aditya Kalra in New Delhi; Editing by Toby Chopra, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas White, Munsif, Aditya Kalra, Toby Chopra, Kirsten Donovan Organizations: Lenovo, REUTERS, Rights, Wednesday, Reuters, Flex, Thomson Locations: Puducherry, Bengaluru, Tamil Nadu, New Delhi

☆ Lenovo Q1 revenue misses forecasts, hit by poor PC demand
▼ + stars: | 2023-08-17 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

The world's largest PC maker has now suffered four consecutive quarters of sales declines. Revenue in the April-June quarter fell to $12.9 billion, below a $13.84 billion average of seven analyst estimates compiled by Refinitiv. Lenovo shares in Hong Kong fell as much as 6% after the result but recouped some losses to trade down 2.9%, while the benchmark index (.HSI) gained 0.9%. However, revenue started contracting last year as demand began to fall, weighed down by rising interest rates and soaring inflation. "The group’s PC business is stabilizing and well-positioned for a year-on-year recovery in the later part of 2023," Lenovo said in a statement.

Persons: Thomas White, HSI, Yang Yuanqing, he's, Yang, Josh Ye, Miyoung Kim, Lincoln, Sonali Paul Organizations: Lenovo, REUTERS, HK, Revenue, Refinitiv, Global, Thomson Locations: HONG KONG, Hong Kong, China

☆ India launches electronics repair pilot project to lure manufacturers
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, May 31 (Reuters) - India has launched a pilot project to establish itself as an electronics repair hub with certain favourable policy changes, which has already attracted companies like Lenovo and Flex, the country's IT ministry said on Wednesday. The three-month-long Electronics Repair Services Outsourcing (ERSO) program is India's first formal attempt to capitalise on a $100 billion global industry and follows a push by MAIT, an industry group for IT and electronics manufacturers. Besides, China's Lenovo (0092.HK) and Singapore-based Flex (FLEX.O), electronic manufacturers like CTDI, R-Logic, and Aforeserve have volunteered for the program, the ministry said in a statement. While India is seeing increased interest in electronics manufacturing, with companies such as Apple (AAPL.O) pivoting from production in China, its repair outsourcing industry has been beleaguered by certain import-export rules. In the pilot phase India will also permit re-export of the imported electronics goods to countries different from the original one - currently it is banned under foreign trade rules.

Persons: Aforeserve, Varun Vyas, Savio D'Souza Organizations: Lenovo, Flex, Reuters, Services, IT, HK, Apple, Thomson Locations: BENGALURU, India, Singapore, China, Bengaluru, Munsif, New Delhi

☆ China's Lenovo shrugs off concerns that global PC market is shrinking
▼ + stars: | 2023-05-25 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Revenues for the world's largest PC-maker Lenovo fell for a third consecutive quarter as global demand for personal computers continue to slump, but the company is not worried, says CFO Wong Wai-Ming. Clearly, when the market actually returns back to more normal, we will definitely be growing," Wong Wai-Ming, CFO of Lenovo, told CNBC. He added that the company is actually seeing higher growth in other businesses such as infrastructure solutions and services. In its latest earnings report on Wednesday, Lenovo said it expects "the PC market will return to growth" in the second half 2023. "Fiscal year Q4 was the most challenging quarter of the year given pressures from both the PC market and the global economy," said Lenovo in the earnings report.

Persons: Wong Wai Organizations: Lenovo, CNBC, Revenue

☆ Lenovo must pay $138.7 mln for InterDigital patents - London court
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 16 (Reuters) - China's Lenovo Group Ltd (0992.HK) must pay U.S. technology firm InterDigital Inc $138.7 million for a licence for its portfolio of telecommunications patents, London's High Court ruled on Thursday in the latest round of a long-running dispute. InterDigital (IDCC.O) brought the lawsuit against Lenovo in 2019 over the terms on which Lenovo should take a licence of its patents which are essential to 3G, 4G and 5G standards. The litigation, which has so far featured five separate trials, centres on the fair, reasonable and non-discriminatory (FRAND) terms of a licence for InterDigital's patents. He said Lenovo should pay a $138.7 million "lump sum" to cover past and future sales of mobile devices from 2007 until the end of 2023. Marfe added that "all eyes will be on the Unified Patent Court", a common patent court for European Union member states which opens in June, to see whether it takes a similar approach.

☆ China's Lenovo Q3 revenue tumbles 24% as PC demand slumps
▼ + stars: | 2023-02-17 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

HONG KONG, Feb 17 (Reuters) - China's Lenovo Group Ltd (0992.HK) reported a 24% revenue decline for the third quarter, its second consecutive decline as global demand for computers and smartphones continued to slump. The world's largest maker of personal computers (PCs) said on Friday that total revenue during the October-December quarter was $15.3 billion, down 24% from the same quarter a year earlier. However, demand has begun to fall and Lenovo's revenue started contracting in the July-September quarter last year. Net income attributable to shareholders for the October-December quarter also plunged 32% to $437 million. PC shipments are likely to slide 6.8% this year after falling 16% in 2022, Gartner said.

World markets this week will be dominated by U.S. inflation figures on Tuesday, leaving Monday free for investors in Asia to digest the previous session's action on Wall Street and adjust positioning ahead of the numbers. Indian consumer price inflation for January tops Monday's Asian economic calendar. Revised figures on Friday showed that inflation in December was a little stronger than originally reported, and a closely-watched consumer inflation expectations survey showed a notable spike in the short-term outlook. Tough talking on inflation from Fed officials was matched last week by their peers in Australia, India and Sweden, so the push is global. Sources have told Reuters that 71-year old academic Kazuo Ueda, a former Bank of Japan policy board member has been lined up to replace Haruhiko Kuroda as BOJ governor.

☆ China’s Lenovo posts first revenue drop in 10 quarters as COVID lockdowns weigh
▼ + stars: | 2022-11-03 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

HONG KONG, Nov 3 (Reuters) - China's Lenovo Group (0992.HK) reported its first revenue decline in 10 quarters as a pandemic-fuelled sales boom comes to an end, with sales especially falling in China as COVID lockdowns took a toll. Lenovo had already seen growth for its first-quarter revenue grind to a halt, at only 0.2%. Global PC shipments declined 15% year-over-year in the third quarter, according to a report published by data firm IDC last month. The report also showed that Lenovo, HP, and Dell saw year-over-year shipments fall by 16%, 28% and 21%, respectively. Chipmaker Qualcomm expects a slump in sales as its forecast for holiday-quarter revenue fell about $2 billion short of Wall Street estimates.

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