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Lenovo chairman forecasts return to profitability in 2010

Lenovo's HQ in Morrisville

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Liu Chuanzhi, who returned to the chairman’s role at Lenovo in a management shakeup last week, said Tuesday that the world’s No. 4 PC-maker should return to profitability in 2010.

Liu, in an interview with Reuters, also said the company will consider making acquisitions and focus on emerging markets in attempts to reverse a declining global market share.

Lenovo, which maintains one headquarters in Morrisville and another in Beijing, reported a $96.7 million quarterly loss last week. Chief Executive Officer William Amelio left the firm, and Yang Yuanqing replaced him. Yang, who maintains a home in the Triangle, had been Lenovo’s chairman.

Liu also told Reuters the company would not pay dividends on its stock and added that losses would continue this year.

"We should see a profit in 2010, and from there the situation will begin to improve," Liu said.

Last week, Liu said Lenovo would shift much of its focus back to China, where the company was launched in 1984. He is a co-founder of the firm and served as chairman until Lenovo acquired IBM’s PC division four years ago.

"China's market opportunities are growing along with the more favorable stimulus measures," he told Reuters.