Chinese IT firm Lenovo expected to restructure: Report
China's Lenovo, the world's fourth largest personal computer maker, is expected to restructure its operations due to weak demand amid the global slowdown.
By Agencies |
SHANGHAI: China's Lenovo, the world's fourth largest personal computer maker, is expected to restructure its operations due to weak demand amid the global slowdown, state media reported on Wednesday.
Under the restructuring plan, which has yet to be finalised, Lenovo would merge its Asia Pacific operations with its Greater China and Russia operations.
Chen Shaopeng, president for the Greater China region, will be appointed as head of the merged operations, the newspaper reported. David D. Miller, currently president for the Asia Pacific region, is expected to leave the company, it added.
"The economic conditions are so tough that (the company) is set to take some measures to counter the winter," Chen was quoted as saying.
A spokesman with Beijing-based Lenovo declined to comment on the report when contacted.
Hong Kong-listed Lenovo said in November its net profit for the three months ended September 30 slumped 78 per cent from a year earlier to $23.4 million mainly due to slower personal computer shipment growth.
Under the restructuring plan, which has yet to be finalised, Lenovo would merge its Asia Pacific operations with its Greater China and Russia operations.
Chen Shaopeng, president for the Greater China region, will be appointed as head of the merged operations, the newspaper reported. David D. Miller, currently president for the Asia Pacific region, is expected to leave the company, it added.
"The economic conditions are so tough that (the company) is set to take some measures to counter the winter," Chen was quoted as saying.
A spokesman with Beijing-based Lenovo declined to comment on the report when contacted.
Hong Kong-listed Lenovo said in November its net profit for the three months ended September 30 slumped 78 per cent from a year earlier to $23.4 million mainly due to slower personal computer shipment growth.
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