18 February 2016

Qualcomm and Lenovo Sign 3G/4G China Patent License Agreement

SAN DIEGO and HONG KONG — February 18, 2016 — Qualcomm Incorporated (NASDAQ: QCOM) and Lenovo (HKSE: 992) (ADR: LNVGY), a global leader in innovative consumer, commercial, and enterprise technology, today announced that they have entered into a new 3G and 4G patent license agreement for China, which covers devices marketed by both Motorola and Lenovo. Under the terms of the agreement, Qualcomm has granted Lenovo a royalty-bearing patent license to develop, manufacture and sell 3G (WCDMA and CDMA2000) and 4G, including 3-mode (LTE-TDD, TD-SCDMA and GSM), complete devices. The royalties payable by Lenovo are consistent with the terms of the rectification plan submitted by Qualcomm to China’s National Development and Reform Commission.
02 February 2016

Lenovo Delivers Strong Q3 Profit

HONG KONG, February 3, 2016 – Lenovo Group (HKSE: 992) (ADR: LNVGY) today announced results for its third fiscal quarter ended December 31, 2015. Quarterly revenue was US$12.9 billion, an 8 percent year-over-year decrease, or 2 percent year-over-year in constant currency. Third quarter pre-tax income, excluding non-cash, M&A related accounting charges of US$77 million, was US$397 million, while reported pre-tax income was US$320 million, up 17 percent, exceeding analyst’s estimates. Net income was US$300 million, up 19 percent, also exceeding analyst’s estimates.
19 January 2016

Lenovo Names Scott Offer General Counsel

Lenovo Group today announced a change in senior leadership.  Jay Clemens, who has served as General Counsel to the company for approximately four years has chosen to step down for personal reasons.  The company has named Scott Offer, currently General Counsel for its Mobile Business Group, to replace Clemens as Senior Vice President and General Counsel for Lenovo Group Limited.