Lenovo CEO Sets Sights on First 5G Smartphone
If Lenovo ships on schedule a 5G “mod” for the Motorola Moto Z3 smartphone in the U.S. early next year, it will be “the first company to provide the 5G mobile experience to customers,” said CEO Yang Yuanqing on an…
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earnings call last week. The goal for the year ending June 30 is to “control” to under $1 billion the annual operating expenses of the Motorola business, he said. If successful, that means Lenovo will have reduced Motorola’s operating expenses by $800 million since buying it from Google for $2.91 billion nearly four years ago (see 1410300029), said Yang. Also last week, Lenovo reported sales in the quarter ended June 30 rose 19 percent to $11.9 billion as a small profit reversed a year-ago quarterly loss.