With our integration of IBM's PC division on track and our organizational integration complete, we are accelerating our planning for our next phase of growth.
We are very confident we can improve the efficiencies.
We are a new unified culture, more efficient, more profitable and with better service for our customers.
Our current cost structure and competitiveness has not been optimized and our product portfolio is not complete enough. We should have higher aspirations.
The partnership we sign today will further increase our cooperation in this area, as well as extending our partnership to include high-end PC product development and joint marketing in new emerging markets.
The decline in profit margin reflects an increase of market competition, and shows that we haven't optimized our cost and expense structure. We need to broaden our product portfolio and increase our market coverage.
We are not a (Chinese) government-controlled company. This didn't create a good image for us, and I want to clarify.
Right now I want to tell our investors to calm down and give us more time to fully integrate to get better performance.
The acquired business has now been profitable for three consecutive quarters, in line with the Board's expectations, although regional performance has varied. Now we must meet even higher expectations. We believe our proven business model, an enhanced product portfolio, and a heightened focus on operational efficiency will enable us to optimize profitability across the globe. We are moving quickly to address these issues and to take advantage of the strong demand that exists for our products.
The board of directors are satisfied with the business results.
The process will take at least five months, so we can have a smooth operation in organising the management and a stable increase in our business in domestic and international markets.
Our first priority has always been to provide highest-quality, innovative products to our customers. Working together with Microsoft, we have made it easy for our joint customers to get the reliability, service and support only available from genuine software, at great competitive pricing. As a global corporate citizen, we want to lead the efforts to make it possible for ordinary users to enjoy genuine software and to help foster the healthy and orderly development of the IT industry in every country in which we do business.
Our mobile handset unit delivered strong and profitable growth, and, more importantly, the acquired PC business was profitable worldwide.
The acquired business has now been profitable for three consecutive quarters, in line with the board's expectations, although regional performance has varied.
The above strategies have helped to improve the gross profit of the group and helped to maintain average selling prices of products, further consolidating the group's leading position in the market.
We have this potential, this opportunity to grow (at) twice the industry average growth.
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