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Lenovo CFO: 50% of US$5.2b spent on Motorola, IBM server acquisitions booked as intangible assets
[BEIJING] Lenovo Group Ltd said on Thursday it booked as intangible assets about 50 per cent of the US$5.2 billion dollars spent on its Motorola Mobility smartphone and IBM Corp low-end server acquisitions.
Wong Waiming, Lenovo's chief financial officer, made the comments during a post-earnings conference call with media.
Lenovo posted a 19 per cent jump in net income in the second fiscal quarter, but revenue fell short of analyst expectations, sending shares lower.