If you remember, at the end of last year, a Chinese report suggested that Lenovo will only sell Moto branded smartphones in future. So basically, the company will discontinue selling handsets with Lenovo branding.
This report emerged after the Lenovo published its annual financial results, which were quite disappointing. At that time we heard no responses from the Chinese electronics giant. Now, after six months later, Yang Yuanqing, the Lenovo Group chairman and chief executive has dismissed those rumors in a statement to Reuters. He has assured that the Lenovo brand for smartphones will never be phased out.
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Despite Lenovo's unstable financial condition, as per Yang, its mobile business will stay as before in China. The company has suffered from huge loss after it started launching phones with Lenovo and Moto branding.
As we all know, Moto branded handsets are much more popular than the Lenovo ones. So this had made people believe that the company will not deal with Lenovo branded smartphones anymore.
However, the company apparently has no plans to do so and it will go on with its dual-brand strategy. According to reports, Lenovo generates about 18 percent of their total revenues from its mobile business.
Last year's financial results showed us that the company had encountered a whopping loss of $566 million. Well, truth to be told, the number looks pretty scary.
However, Lenovo fans don't need to panic just yet. Yang has said in a Weibo post that the Chinese manufacturer will soon reconstruct its Chinese business. Lenovo is even planning to launch more products in near future, he further added.