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Lenovo posts record sales and profits thanks to PCs

Beats the glum PC industry
Thu Nov 08 2012, 13:45
lenovo thinkpad twist s230u

SYSTEM BUILDER Lenovo has topped off a great 2012 with record sales figures and revenues, and claimed it took 15.6 percent of the PC market.

Lenovo is the PC maker that has bucked the industry trend of a shrinking PC market, posting faster than average industry growth for 14 consecutive quarters. All of that has left the firm announcing an 11 percent increase in second fiscal quarter sales to $8.7bn with profits of $162m, an increase of 13 percent over the same period last year.

Lenovo has managed to maintain the legendary status held by IBM's Thinkpads and introduce its own low-cost models aimed at consumers. The firm has also been pushing smartphones in China and close to half of its revenues in its second fiscal quarter came from its home market.

Yang Yuanqing, chairman and CEO of Lenovo said, "Our global PC market share reached another historic high, moving us closer to our dream of becoming the worldwide PC leader. With four years' effort, our consumer PC business has become the world's number one in this segment for the first time. Our smartphone business in China, which we started only two years ago, has again strengthened its number two position,"

Last month Gartner reported that Lenovo had overtaken HP to take the title of largest PC vendor. HP disputed that and pointed to IDC's figures that included workstations and put HP slightly ahead of Lenovo. Whether or not Lenovo's latest 15.6 percent market share estimate puts it ahead of HP or not, its financial results show that the Chinese firm is managing to beat industry growth, something HP and others wish they could say. µ


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