there is a red X on battery & report is freaking, how can I correct it

hi guys, i am new at forum.

there is a red cross on my battery icon at system tray as you see from snap.



This icon warns me "consider replace your battery" or something like that.
But when I unplugged the power cable of my laptop and started using it with battery, windows warn me with "your battery is low, it is about 7% blah blah blah" warning after only 2 or 3 minutes later...
But I can continue using battery about 1 hour.
I mean this windows warning is mistake... There is a problem somewhere...

After all of these, I opened cmd and typed "powercfg -energy" and generated a file that name is "energy-report.html"
this report told me about warnings and errors of my power plan..
At the end of the report, there is a statistical information as this;

Code:

Battery:Battery Information
Battery ID         xxxxxxxxxxx
Manufacturer	   SIMPLO
Serial Number     xxxxxxxxxx
Chemistry          LION
Long Term         1
Design Capacity	48840
Last Full Charge  701165

my questions are these;

"How can I charge a battery to level 701165, if its capacity is only 48840...
what is wrong here?
what have i to do correct this?"

but (as I said first message) I can use my laptop at "high performance power scheme" about 1,5 hour...
I mean my battery is not new, but it has not died yet...

VistaKing and windude99 thanks for your precious helps.
but I already did it 1 month before, unchecked the "warn me" checkbox...

Now it seems like;



and it is acting strange...
sometimes I use my battery for 1,5 hours, it holds at 100% level, no drop with time.. And it immediately drops to 7% and warns me as "your battery is low, please charge it blah blah..."

sometimes I start using my battery and within 2 or 3 minutes later windows warn me as "your battery is low, it is 7%. please charge it blah blah..." but I continue using it for 1,5 hours without going automatic shut-down...

and this red cross on battery icon is annoying me...

also "powercfg -energy" commanded report is freak, it is not logical, as you see...

It's most likely that your laptop battery's sensor isn't calibrated. You can try calibrating battery by turning off all the power saving features and disabling hibernation so that the laptop won't hibernate when the battery becomes fully drained. After the battery is fully drained, charge the laptop to 100%. Windows should most likely give the correct amount of charge left.