(MENAFN) Lenovo Group said its quarterly profit declined 5 percent, reflecting the computer maker's acquisition of the unprofitable Motorola mobile phone business, Arab News reported.
The company said it earned USD253 million in the three months through December. Revenue rose 31 percent to USD14.1 billion. The profit decline reflected the integration of Motorola into Lenovo.
The acquisition closed in October and Lenovo included two months of Motorola's operations in its results. Lenovo said its transformation into a supplier of a mobile devices and enterprise products was proceeding quickly.
"The two newly acquired businesses are achieving great momentum in their first quarter of integration. They are definitely becoming our growth engines," Lenovo chairman said in a statement.
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