Deals
Lenovo Takes Control of Fujitsu PCs as Revenue Tops Estimates
- Chinese PC maker’s sales beat as global market stabilizes
- Lenovo is paying upwards of $157 million for Fujitsu unit
Photographer: Brent Lewin/Bloomberg
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Lenovo Group Ltd. unveiled plans to take over Fujitsu Ltd.’s personal computer business for at least $157 million after posting its strongest revenue growth in two years amid signs the PC market is stabilizing.
China’s largest PC maker reported a 5 percent jump in revenue to $11.8 billion in the quarter ended September, surpassing projections for $11.3 billion and marking the biggest rise since the same period of 2015. Net income fell 11 percent to $139 million, which was bolstered by accounting gains. Lenovo rose as much as 5 percent in the afternoon, erasing year-to-date losses.