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Lenovo Profit Beats Analyst Estimates on PCs, Smartphones

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TOKYO – Lenovo Group Ltd. (992), the world’s largest maker of personal computers, reported second-quarter profit that beat analysts’ estimates after increasing its share of the global markets for PCs and smartphones.

Net income climbed 36 percent to $219.7 million in the three months ended September, from $162 million a year earlier, Lenovo said in a statement today. That surpassed the $202.7 million average of 17 analysts’ estimates compiled by Bloomberg.

Lenovo Group Ltd., which has its headquarters in Beijing and Morrisville, North Carolina, rose 0.4 percent to HK$8.45 at the noon break in Hong Kong trading, before the announcement. The stock has climbed 20 percent this year, surpassing the 1 percent gain in the city’s benchmark Hang Seng Index. Photographer: Krisztian Bocsi/Bloomberg

LENOVOLenovo posted the biggest gain in shipments among the world’s top-five PC vendors during the period as the industry experienced a 7.6 percent drop amid weak consumer sentiment for traditional computers, researcher IDC reported last month. Chief Executive Officer Yang Yuanqing has maintained earnings growth amid the industry slump by expanding in mobile devices to compete with Apple Inc. (AAPL) and Samsung Electronics (005930) Co.

“The better profit is due partly to its smartphone business and cost control,” Jenny Lai, a Taipei-based analyst at HSBC Holdings Plc, wrote in an e-mail today. “Top-line growth is coming from both corporate replacement cycle and rising contribution from smartphone sales.”

Lenovo, which has its headquarters in Beijing and Morrisville, North Carolina, rose 2.1 percent to HK$8.60 at the close in Hong Kong trading. The stock has climbed 23 percent this year, surpassing the 1 percent gain in the city’s benchmark Hang Seng Index.
Smartphone Sales

Second-quarter revenue rose 13 percent to $9.77 billion. That compares with the $9.41 billion average of 18 estimates compiled by Bloomberg.

The company’s share of the global PC market expanded to 17.3 percent in the period, from 15.7 percent a year earlier, as it managed to boost shipments 2.2 percent amid the industry’s decline, IDC reported last month.
Smartphone shipments by Lenovo rose 78 percent to 12.3 million units, the company said today.

Lenovo, which released its flagship K900 handset in May, ranked fourth in global smartphone shipments during the period as its market share rose to 4.7 percent, from 3.7 percent a year earlier, according to IDC.

The company, which currently sells handsets in China and nine other nations, is preparing to release the devices to more markets in the Middle East, Africa and Latin America, Yang said on a conference call today. That may boost mobile devices to 50 percent of sales within five years, from 20 percent now, he said.
New Markets

“Our expansion in worldwide markets has gained real momentum,” Yang said. “Over the next couple of quarters, in our second wave, we will expand phones to at least 20 more countries.”
While the company has plans to grow the business organically, it will also look at opportunities to expand through acquisitions, Yang said.

Lenovo hasn’t been told by any government that it couldn’t purchase assets because it’s a Chinese company, Chief Financial Officer Wong Wai Ming said on the call. Wong was responding to a question about a report in The Globe and Mail that Lenovo had pursued a bid for BlackBerry Ltd. (BBRY) until the Canadian Government said it wouldn’t accept a Chinese takeover of the company because of national security concerns.
He declined to comment specifically on any interest the company may have in bidding for BlackBerry.

– BLOOMBERG

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ITREALMS E-Waste Dialogue Partners EPRON, EL-AS Tech, WEE-Eco

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In efforts at spicing up the 2023 ITREALMS E-Waste Dialogue, the management of ITREALMS Media has partnered with E-waste Producer Responsibility Organization of Nigeria (EPRON) membership organisations for a day-long collection scheme of small electronic waste on Friday, December 15, 2023.

The EPRON members aligning their partnership with 2023 ITREALMS E-Waste Dialogue are EL-AS Tech Enterprises Limited and WEEE Eco-Friendly.

ITREALMS’ day-long collection scheme is part of the commemoration of 2023 international E-Waste Day (IEWD) within the ITREALMS E-Waste Dialogue with the theme “You Can Recycle Anything with a plug, battery or cable” at Welcome Centre Hotels, International Airport Road, Lagos.

Revealing this collaboration, the Group Executive Editor, ITREALMS Media, the organisers of the 2023 ITREALMS E-Waste Dialogue, Sir. Remmy Nweke, urged mobile device enthusiasts to come along with their devices that have reached their end-of-life to the venue for proper disposition by professionals who would also be on grounds to address some topical issues.

The collection of small electronic wastes especially mobile phones and like-devices, would be carried out by EPRON member organisation, EL-AS Tech Enterprises Limited as facilitated by ITREALMS Media group as part of this year’s ITREALMS E-Waste Dialogue on Friday, December 15, he added.

He disclosed that the exercise would commence at Welcome Centre Hotel by 9am till close of work hours the same day.

Nweke pointed out that the collection of small e-waste items would include mobile phones, pointers mouse, earpieces, rechargeable torches, phone chargers, to name a few.

Further, he said, that this initiative has become time-serving because some people may have missed any other opportunity before now for the year-long campaign, hence this awareness on e-Waste has to be continuous, “ITREALMS came up with this scheme.”

Nweke beckoned on Nigerians, especially mobile phone users, to leverage the opportunity in disposing of their mobile devices they no longer use, of course in exchange for a voucher or gift item.

In her reaction to this year’s day-long small waste collection, EPRON Executive Secretary, Mrs. Ibukun Faluyi, described the initiative as commendable, expressing confidence it would intensify the collection of end-of-life devices for proper disposition.

Mrs. Faluyi, also urged Nigerians to take advantage of this day-long collection of small wastes courtesy of ITREALMS Media.

Recalling for instance that in October 2022, EPRON had partnered SLOT alongside some UN agencies for collection of small e-waste items in Lagos, including the United Nations Information Centres (UNIC), United Nations Industrial Development Organization (UNIDO), International Labour Organisation (ILO), Lagos Waste Management Authority (LAWMA) and Lagos State Environmental Protection Agency (LASEPA).

This is even as the Executive Vice Chairman of the Nigerian Communications Commission (NCC) Dr. Aminu Maida and Director-General, National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Aliyu Jauro, would both lead speakers at the 2023 ITREALMS E-Waste Dialogue slated for this Friday, December 15, in Lagos.

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iPhone 15: Things To Know About Apple’s Newest Model

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iPhone 15: Things To Know About Apple's Newest Model

Today, September 12, the tech corporation Apple will introduce the iPhone 15, their newest iPhone model.

According to a Forbes story, this model, which will be introduced at the company’s “Wanderlust” event in Cupertino, California, will be available in four variations: the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max.

Here are five things you should know about the new iPhone 15 model.

1. The new model is made of titaniu, not stainless steel as some other Apple smartphone models, Senior research analyst at DIGITIMES, Luke Lin reports.

2. The Pro Max model will feature double the optical zoom on the iPhone 14 as it comes with a newly-introduced ‘periscope lens upgrade, performing 5-6x optical zoom.’

3. The Pro models will carry an A17 bionic chip expected to make it perform faster.

4. The iPhone 15 model will feature a USB-C charging port, the same port featured on some Android phone models.

5. Due to its titanium shell, the new model is anticipated to be more expensive to purchase. The following is the speculated price list, as reported by Forbes:
The iPhone 15 starts at $799, the iPhone 15 Plus at $899, the iPhone 15 Pro at $1,099 ($100 increase), and the iPhone 15 Pro Max at $1,299 ($200 increase).

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FG Partner With Firm, Set To Introduce 500 Autogas-Powered Buses

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FG Partner With Firm, Set To Introduce 500 Autogas-Powered Buses

In an effort to reduce the exorbitant cost of Premium Motor Spirit, better known as petrol, the Infrastructure Bank Plc announced its collaboration with FEMADEC Group on Monday to offer 500 buses powered by autogas (Compressed Natural Gas).

Partners in the agreement claimed that the project was created to provide citizens with dependable, affordable, and environmentally friendly travel options, taking into account the negative effects of the nationwide increase in PMS costs.

Under Decree No. 51 of the Federal Republic of Nigeria’s 1992 Constitution, the Infrastructure Bank, originally known as the Urban Development Bank of Nigeria Plc, was founded in 1992 to promote the quick development of infrastructure throughout the nation.

In a statement issued in Abuja on its partnership with FEMADEC, the bank said, “The preliminary offer extended by TIB lays a solid foundation for the expansion of FEMADEC Group’s CNG bus fleet.

“With plans to introduce 500 CNG buses within the next five years, commencing with an initial batch of 50 buses in the forthcoming year, this proposal stands poised to instigate significant change.

“The acceptance of this proposition by FEMADEC Group, notably championed by Fola Akinnola, the Group Chief Executive Officer, is a testament to their zeal and dedication to this alliance.”

The bank described the partnership as a “pivotal endeavour that is primed to redefine Nigeria’s public transportation landscape, offering dependable, cost-effective, and ecologically conscious travel alternatives for citizens, while harmonising with the nation’s broader sustainability ambitions.”

“This partnership represents a remarkable stride towards a more ecologically aware future for Nigeria’s transportation sector, highlighting the shared commitment of both TIB and FEMADEC Group to sustainable advancement and progress.”

It said FEMADEC Group’s strides in operating Compressed Natural Gas buses, including the existing fleet of 20 CNG buses under LAMATA, underscored their unwavering dedication to ecologically sound solutions, a commitment predating the fuel subsidy removal.

“Their leadership within the CNG value chain is undeniable, and the new alliance with TIB underscores their foresight.

“This partnership seamlessly aligns with TIB’s sustainability objectives, echoing their resolute endorsement of the government’s net-zero and climate change agenda.

“The bank’s aspiration to champion Nigeria’s infrastructure progress is evident in its endorsement of pivotal initiatives like this, yielding expansive positive impacts on both the environment and society,” the bank stated.

The bank added that it would continue to make a significant contribution to the country’s growth as a leading financial institution committed to advancing effective and long-lasting infrastructure projects.

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