China 's Legend Holdings , owner of the Lenovo brand of PCs and mobile phones , is shifting its focus to mobile technology and lifestyle - related services . The pivot comes after the firm lost half its value since listing in Hong Kong in 2015 , with H1 2016 net profit down ##graded to CNY2.58bn ( $ 386.8 m ) and revenues 5 % lower at CNY135bn ; it tech ##nics accounted nearly 93 % of total revenue and contributed 27.8 % to net profit whereas its non - IT sector investments , particularly three financial investment arms , artificial intelligence and smart manufacturing and " innovative consumption " like car - hailing apps , contributed 33 % of revenue but retained 72.2 % of revenue . The firm said there are no plans to expand its holding in Lenovo .
China's Legend Holdings, owner of the Lenovo brand of PCs and mobile phones, is shifting its focus to consumer technology and lifestyle-related services. The pivot comes after the firm lost half its value since listing in Hong Kong in 2015, with H1 2016 net profit down 36%YoY to CNY2.58bn ($386.8m) and revenues 5% lower at CNY135bn; it tech sector accounted nearly 93% of total revenue and contributed 27.8% to net profit whereas its non-IT sector investments, particularly three financial investment arms, artificial intelligence and smart manufacturing and "innovative consumption" like car-hailing apps, contributed 7% of revenue but delivered 72.2% of profit. The firm said there are no plans to cut its holding in Lenovo.