MORRISVILLE – Not all news was good for Lenovo as it summed up operations for the most recent quarter in a record-setting financial performance announced Thursday.
The coronavirus, for example.
“As relates to coronavirus, the business priority continues to be ensuring the health and welfare of the Lenovo workforce, continuity of manufacturing and rebuilding capacity, and assisting those working to contain the outbreak,” Lenovo said in the earnings announcement.
“Like the rest of the industry, Lenovo is inevitably facing some short-term constraints and delays as the supply chain is ramped back up after the extended Chinese New Year factory closures. As a result, Lenovo will leverage its geographical balance, operational excellence and strength in managing complex supply chains across a global manufacturing footprint, and solid strategy execution in order to weather the challenges.”
Lenovo operates two global headquarters, one in Beijing and the other in Morrisville.
Most of the firm’s operations are based in China where the company was launched. China also represents one of the tech conglomerate’s largest markets.
However, other there are other challenges to future performance.
“The last quarter has presented multiple industry-wide business challenges including ongoing geo-political uncertainties, component supply shortages and more recently the global Novel coronavirus health situation,” Lenovo said.
Lenovo has substantial operations from research and development to manufacturing across the world, including the US, Japan, South America and Europe.
A record quarter: Lenovo’s sales, profits beat analysts’ expectations
