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Will Lenovo Go Public In 2K14?
Lenovo’s parent firm Legend Holdings could float an initial public offering (IPO) as soon as 2014, according to the firm’s chairman.
Liu Chuanzhi, chairman of Legend Holdings told China Business News that the firm plans to list on the China A-share market between 2014 and 2016. Chuanzhi also reportedly said the company will invest $3.2bn by 2014 to develop its various businesses.
Legend Holdings is 36 percent owned by the Chinese state controlled Academy of Sciences, with a further 20 percent owned by the private investment firm China Oceanwide Holdings Group.
Legend Holdings also has venture capital and real estate interests outside of Lenovo Group. The firm’s system building operations however have gone from strength to strength since it bought IBM’s PC business back in 2005, and it is now heavily promoting its Yoga tablet-laptop hybrid device.
Earlier this year Gartner reported that Lenovo had overtaken HP to become the largest PC vendor, something that HP disputed by offering IDC’s figures. Regardless of HP’s protestations then, Lenovo is set to overtake HP as its PC business continues to grow while HP’s has been shrinking for some time.
Legend Holdings might want to cash in on Lenovo’s high flying status and a cash injection from an IPO could help the company invest in designing products for the smartphone and tablet markets.
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Lenovo On The Rise
Lenovo has topped off a great 2012 with record sales figures and revenues, and claimed it took 15.6 percent of the PC market.
Lenovo is the PC maker that has bucked the industry trend of a shrinking PC market, posting faster than average industry growth for 14 consecutive quarters. All of that has left the firm announcing an 11 percent increase in second fiscal quarter sales to $8.7bn with profits of $162m, an increase of 13 percent over the same period last year.
Lenovo has managed to maintain the legendary status held by IBM’s Thinkpads and introduce its own low-cost models aimed at consumers. The firm has also been pushing smartphones in China and close to half of its revenues in its second fiscal quarter came from its home market.
Yang Yuanqing, chairman and CEO of Lenovo said, “Our global PC market share reached another historic high, moving us closer to our dream of becoming the worldwide PC leader. With four years’ effort, our consumer PC business has become the world’s number one in this segment for the first time. Our smartphone business in China, which we started only two years ago, has again strengthened its number two position,”
Lenovo Adds Enterprise Servers
Eager to expand its horizons beyond PCs and tablets, Lenovo on Monday announced the first server from the newly created Enterprise Product Group, which deals in servers, storage, networking and software.
The ThinkServer TD330 is a tower server based on Intel’s Xeon E5-2400 processors. The server will support up to 16 processor cores and start at $929.
Lenovo last week announced the formation of the Enterprise Product Group. It is headed by Roy Guillen, vice president and general manager of the division. Guillen was previously vice president and general manager of Dell’s data center solutions (DCS) division.
Lenovo already offers low-end servers and workstations for homes and small businesses, but the new division will target small, medium-size and large enterprises. Lenovo has offered low-end servers based on Intel’s Xeon E3 and E5 processors, but the company did not respond to a request for comment on whether existing ThinkServer products would be part of the enterprise product portfolio.
“We’ve placed expanded emphasis on building our server portfolio this year, introducing products that meet the needs of all our customers — from enterprise customers to small businesses,” Guillen said in a statement.
Lenovo established itself as a PC company after it bought IBM’s PC division in 2005. Lenovo’s progress in the PC market has been rapid, with IDC placing the company as the world’s largest PC vendor for the first time in the third quarter this year. The new enterprise division will put Lenovo in competition with IBM, Hewlett-Packard and Dell, which also sell x86 servers.
Dell Names Chief As Sales Tank
Dell has snagged a former Hewlett-Packard executive to head up its server, networking and storage division, a critical area for Dell as it tries to expand its data center business and reduce its dependence on PCs.
Marius Haas was head of HP’s networking business before leaving two years ago to join an investment firm. On Tuesday he was named president of Dell’s enterprise solutions business, where he’ll oversee the engineering, development and marketing of Dell’s enterprise products.
Haas replaces Brad Anderson, who ran Dell’s enterprise division since 2005 and is now leaving the company.
Dell announced the news on the same day it reported financial results for its second quarter, which closed Aug. 3. Its profit for the period declined 18 percent from a year earlier, to US$732 million, while revenue fell 8 percent to $14.48 billion, Dell said.
Its server and networking sales were among the highlights for the quarter, up 14 percent from last year, while sales of storage products were down 13 percent. Together, the three product categories account for about one-fifth of Dell’s overall business.
Woman Sues LinkedIn
June 25, 2012 by admin
Filed under Around The Net
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An Illinois woman has filed a $5 million lawsuit against LinkedIn Corp, claiming that the social network violated promises to consumers by not having better security in place when more than 6 million customer passwords were stolen.
The lawsuit, which was introduced in federal court in San Jose, California, on June 15 and seeks class-action status, was filed less than two weeks after the stolen passwords turned up on websites frequented by computer hackers.
The attack on Mountain View, California-based LinkedIn, an employment and professional networking site with more than 160 million members, was the latest massive corporate data breach to have attracted the attention of class-action lawyers.
A federal judicial panel last week consolidated nine proposed class-action lawsuits in Nevada federal court against online shoe retailer Zappos, a unit of Amazon.com, over its January disclosure that hackers had siphoned information affecting 24 million customers.
The LinkedIn lawsuit was filed by Katie Szpyrka, a user of the website from Illinois. In court papers, her Chicago-based law firm, Edelson McGuire, said LinkedIn had “deceived customers” by having a security policy “in clear contradiction of accepted industry standards for database security.”
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WordPress Attacked By Hackers
March 14, 2012 by admin
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Security outfit Websense said that more than 200,000 infected pages that redirect users to websites displaying fake antivirus scans have been created. The latest compromises are part of a rogue antivirus distribution campaign that has been going on for months, the Websense researchers said.
Cybercriminals gangs have switched to drive-by download attacks that exploit vulnerabilities in outdated browser plug-ins to automatically download and install their rogue software. The large number of infected Web pages seen in this campaign is an indication that these scams still work. Vulnerable websites are a rich source of opportunity for cybercriminals. More than 85 percent of the compromised sites were located in the US, but their visitors were geographically dispersed.
An Apple/Hulu Hookup In The Works?
Apple Inc is in very preliminary talks to join the bidding for Hulu, the online video site that Walt Disney Co, News Corp and its other owners have put up for sale, Bloomberg cited two anonymous sources as saying.
Apple has begun initial discussions that may eventually lead to an acquisition, Bloomberg reported without providing any more details.
An Apple spokesman declined to comment on the rumor.
Motorola Xoom Sales Better Than Expected
May 2, 2011 by admin
Filed under Consumer Electronics
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Motorola Mobility shipped 250,000 Xoom tablets in the first month the device was released, the company said on Thursday as part of their first-quarter earnings report.
The tablet, the first to run Google’s Android Honeycomb OS, went on sale in February. Within weeks, several analysts said early sales numbers were disappointing. By early April, one analyst estimated that Motorola had sold a total of 100,000 of the tablets.
Shipping a quarter of a million in a month isn’t quite the same as Apple first iPad shipment, but the number appears to be better than most had expected.
For the full year, Motorola is expecting to sell 1.5 million to 2 million tablets, it said. It plans to introduce new tablets, including some with new form factors, this year, executives said during a conference call to discuss first-quarter results.
During the quarter, Motorola Mobility also began selling the Atrix, a phone that can be docked into a device with a full keyboard and monitor. Some analysts have also said sales of the Atrix are unimpressive.
The company did not release Atrix sales numbers separately. It said it shipped 9.3 million mobile devices, including 4.1 million smartphones, during the quarter.
Motorola expects to record an operating profit for the full year, but faces challenges ahead. It has delayed the launch of the Bionic, its first LTE device, and on Thursday said the delay is related to a software problem. That same problem is also pushing back the launch of LTE on the Xoom, which was initially expected for the first half. Both the LTE Xoom and the Bionic are now expected to come in “summer,” which in North America could be as late as September.
Hackers Breach WordPress Servers
April 15, 2011 by admin
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Hackers have gained access to several servers that support WordPress and may have obtained source code, according to the founding developer of Automattic, the company behind the popular blogging platform.
Matt Mullenweg wrote on the WordPress blog that Automattic has been reviewing log records to determine how much information was breached and re-evaluating “avenues to gain access.”
“We presume our source code was exposed and copied,” Mullenweg wrote. “While much of our code is open source, there are sensitive bits of our and our partners’ code. Beyond that, however, it appears information disclosed was limited.”