Menu
Lenovo's fiscal Q3 profit up 54 percent, increases China share

Lenovo's fiscal Q3 profit up 54 percent, increases China share

Lenovo's profit in its fiscal third quarter ended Dec. 31 grew 54 percent year-over-year, as the company saw growth in many key markets

Lenovo's profit in its fiscal third quarter ended Dec. 31 grew 54 percent year-over-year, as the company saw growth in many key markets.

PC shipments increased by 37 percent, the Chinese PC vendor reported on Thursday.

Profit was US$153 million at the end of the quarter, while revenue rose by 44 percent year-over-year to $8.4 billion.

Lenovo's business continues to grow despite a sluggish PC market brought on by uncertain economic conditions, and consumer interest in tablets. The company was rated by research firms Gartner and IDC as the world's second largest PC vendor, surpassing Dell, in the third quarter of 2011.

Lenovo has credited its success to its focus on strengthening its PC business in its home turf in China -- expected to be the world's largest PC market in 2012 -- while also "attacking" emerging markets such as Russia and India. In China, the company said it now had a record 35.3 percent market share.

"In China, you only have to walk around a few blocks and you will be able to find a Lenovo store or service center," said Gartner analyst Eileen He. The company continues to invest in distribution channels not only in China, but also in foreign markets, which helped drive Lenovo's growth, she added.

Lenovo also reported growth in mature markets. The company said its PC shipments in Western Europe and North America increased by 67 percent year-over-year during the quarter.

In its mobile Internet business, which includes tablets and smartphones, Lenovo reported "strong progress". In the fiscal third quarter, the company sold 6.5 million handsets, of which almost half were smartphones.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags ChinaPCLenovointernational news

Featured

Slideshows

Meet the winners of the 2020 Reseller News Innovation Awards

Meet the winners of the 2020 Reseller News Innovation Awards

Reseller News honoured the standout players of the New Zealand channel in front of more than 500 technology leaders in Auckland on 21 October, recognising the achievements of top partners, start-ups, vendors, distributors and individuals.

Meet the winners of the 2020 Reseller News Innovation Awards
Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

This exclusive Reseller News Exchange event in Auckland explored the challenges facing the partner community on the cloud security frontier, as well as market trends, customer priorities and how the channel can capitalise on the opportunities available. In association with Arrow, Bitdefender, Exclusive Networks, Fortinet and Palo Alto Networks. Photos by Gino Demeer.

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security
Show Comments