Lenovo CEO says acquisitions to hit short-term performance

BEIJING (Reuters) - Lenovo Group Ltd's recent string of multi-billion-dollar acquisitions will have a negative impact on the Chinese personal computer maker's performance in the short term, Chief Executive Yang Yuanqing said on Thursday. In a telephone interview after the company's third-quarter earnings announcement, Yang said that the company will be able to turn around the loss-making Motorola business it bought from Google Inc last month for $2.9 billion within "a couple of quarters". Lenovo later specified the Motorola profitability turnaround was more likely to take three to five quarters. The company also acquired IBM Corp's low-end server unit in January for $2.3 billion. (Reporting by Paul Carsten; Editing by Kenneth Maxwell)