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THE MARKETS
China's PC giant Lenovo picked up steam as orders for office computers jumped.
Its net profits soared 54 percent year on year to reach $153 million in the quarter ending on December 31, 2011. Its revenues totaled $8.4 billion, up 44 percent.
Lenovo maintained momentum despite a sluggish PC market caused by the global economic downturn.
The company has surpassed Dell to become the world's second largest vendor.
Lenovo has attributed its success to a focus on strengthening its PC business in China, as well as emerging markets such as Russia and India.
"The outlook of China's PC market remains bullish thanks to a buoyant economy," said Yang Yuanqing, CEO of Lenovo.
"Meanwhile, low user penetration in smaller cities means great potential for growth," said Yang.
Suning Appliance Co. Ltd., China's largest appliance retail chain, aims to boost its market share with extended presence, both physical and online.
The Nanjing-based retailer plans to add more than 400 self-branded outlets across the nation this year.
Suning will also open 30 department stores under the Laox brand, selling furniture, toys, musical instruments and other goods besides electrical appliances.
Laox is a Japanese electronics retailer in which Suning owns a 51-percent stake.
Meanwhile, its online store, Suning.com, is gearing up to improve efficiency in warehousing and fulfilling orders.
To achieve that, it plans to put eight logistics centers, which are currently under construction, into operation, and break ground on seven new centers this year.
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