We all know that it is the time of economic recession and conditions are very tough for all of us. Every day we hear that big companies are suffering huge loss and cutting on jobs. So, it is not surprising at all to see that Lenovo has suffered lost in the October-December, 2008 quarter. In fact, the amount of lost was $96.7 million and it was indeed a very bad loss because hardly anyone could predict such a bad condition. You have to remember that October-December is the holiday season (Christmas and New Year) in American and
Well, there is more bad news too. In the current quarter (January-March, 2009), Lenovo may suffer even worst condition. I like to inform you that in October-December, 2007 quarter, Lenovo saw a net profit of US$172 million. Experts think that the demand for personals computers has decreased because of global economic recession. So, it is natural that Lenovo revenue has decreased.
The announcement of the loss has been accompanied with another shocking news. Chief Executive Officer William Amelio has decided to resign and Chairman Yang Yuanqing is going to be in his place. It is a major shake up for the senior positions in Lenovo. Here, I like to remind you that William Amelio was appointed as Chief Executive Officer on December 20, 2005. At that time, he said:
"I am very excited to lead this ground breaking global enterprise. Lenovo provides me a unique chance to draw on the skills I have developed in every component of my career. Lenovo has a solid foundation in place and enormous opportunities, and I look forward to working with Yuanqing and the entire team to continue the drive to enhance profitable growth."
I wonder what Mr. William Amelio will do next. It is a bad news for all the Laptop makers and PC makers. It indicates that touch time is going to come in the Laptop industry. It is worth mentioning that Lenovo is the fourth largest main in PC making industry. I was wondering what Lenovo and other Laptop makers should do now. I feel that they should explore the market of third world countries more. For example, in my own city, I can find only a few models of Lenovo Laptops.
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