“Lenovo Group Ltd has replaced the head of its smartphone unit, a critical business division that has seen its China sales tumble as Apple Inc and other high-end phone makers win over customers with sleeker product offerings,” Gerry Shih and Paul Carsten report for Reuters.
“Liu Jun, one of four executive vice presidents under CEO Yang Yuanqing and a company veteran of 22 years, will be replaced by Chen Xudong, the head of ShenQi, a sub-division that sells mobile devices, the company said in a statement,” Shih and Carsten report. “Chen, 47, takes the reins of the division at a critical time. He must integrate the Motorola unit acquired from Google Inc for $2.9 billion six months ago, while trying to counter a damaging slump in phone shipments.”
“Lenovo, the fifth largest player in the Chinese market, shipped 22 percent fewer phones in the first quarter compared to the same period a year earlier, according to research firm IDC,” Shih and Carsten report. “In stark contrast, Apple’s first-quarter China shipments jumped 62 percent…”
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