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Lenovo's net profit up 90 percent, smartphone shipments soar |
May 23, 2013
PC sales in China and high growth in smartphones shipments helped boost Lenovo's net profit for its fiscal fourth quarter by 90 percent year-over-year.For the quarter ended March 31, Lenovo's net profit was US$127 million, the company said on Thursday. Revenue broke records and was at $7.8 billion, growing four percent from the same period last year.In Lenovo's home market of China, the company had an operating margin of 4.9 percent, an increase of 8 percent year-over-year. The company also saw continued profitability in its mobile devices business, which makes up 9 percent of its overall sales. At the end of the quarter, Lenovo's smartphone shipments were up 206 percent year-over-year.Globally, PC shipments were down 13.9 percent year-over-year in the quarter, the market's steepest decline since research firm IDC began tracking the market in 1994. Lenovo itself posted flat year-over-year PC shipment growth in the period.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2039589/lenovos-net-profit-up-90-percent-smartphone-shipments-soar.html#tk.rss_all
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