Lenovo expects higher sales through product innovation

Dec. 1, 2008 (China Knowledge) - Lenovo Group Ltd<992><LNVGY>, the fourth largest personal computer (PC) maker in the world, will focus more on developing products with innovative features in a bid to boost sales amid the global financial turmoil and economic recession, the South China Morning Post reported Monday, citing William Amelio, president and chief executive with Lenovo, as saying.

Lenovo owns a strong and proven global engine for innovation, Amelio said, adding the company would continue to look for potential acquisition opportunities with the hope to expand its business scale.

Analysts noted that continuous upgrade of technology and differentiation of application would enable the company to push forward the development of the high-end market.

The PC maker booked a net profit of US$23.44 million for the second fiscal quarter ended at Sep. 30, plunging 78% from US$105.3 million in the same period of last year, fuelled by the global financial crisis and the slowdown of business growth in China.

Shares of Lenovo edged up 0.56% to close at HK$1.79 in Hong Kong on Friday.