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Lenovo's overseas income will soar in 2010, says CEO

By Ding Qingfen and Qiang Xiaoji (chinadaily.com.cn)
Updated: 2010-03-05 17:26

Lenovo's overseas income will greatly increase in 2010 due to the economic recovery of the overseas market and the company's strategic adjustment, Lenovo CEO Yang Yuanqing said Friday.

The income will be much better than the previous year and the increase may be enough to beat Lenovo's competitors in the overseas market, Yang said.

Yang said the company only had corporate clients overseas, but now it has successfully expanded to the consumer goods market.

He is also confident about the domestic market, especially about the program "home appliances for the countryside" – rural residents on the Chinese mainland can receive subsidies from government to buy home appliances produced by manufacturers on the list.

Yang said the program will trigger the explosive expansion of China's rural market, which will have a profound impact on the company.

Speaking of the newly released iPad by Apple, he said innovation deserves applause only if it is accepted by the market. He is not optimistic about the prospects of the iPad. He disclosed that Lenovo will launch better innovative products soon.