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Lenovo CEO says he can turn Motorola losses around very quickly

Lenovo CEO has grand plans to quickly stem Motorola losses (HKG:0992)

| Business, Financial & Legal News | Posted: Feb 13, 2014 8:31 am

When Lenovo purchased Motorola Mobility from Google, it cost them $2.91 billion in stock and cash, but then Motorola posted a $384 billion operating loss for Q4 2013 - not good.

 

TweakTown image news/3/5/35422_03_lenovo_ceo_says_he_can_turn_motorola_losses_around_very_quickly.jpg

 

Well, Lenovo CEO, Yang Yuanqing, has said that he can quickly turn Motorola around within months - not years, like most have expected. He told Bloomberg: "In a few quarters we can turn around the business". He continued: "I am confident that from day 1 after closing, these businesses will quickly begin contributing to our performance and develop into pillars for long-term, sustainable growth".

 

They're definitely fighting words, but how will Lenovo pull it off? Well, the above plan should work - it shows why Lenovo acquired Motorola, and how it will realize growth from the deal, too. Lenovo plans to relaunch the Motorola brand in China, as well as emerging markets, where it will add entry-level handsets from Motorola to its growing list of options.

NEWS SOURCES:Theverge.com

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