Lenovo back in profit as demand rises
By Ding Yining |
August 20, 2010, Friday
|
Print Edition
Print Edition
LENOVO Group said it returned to profit in the fiscal first quarter as worldwide personal computer demand rebounded.
The country's largest PC maker by shipments said net income in the three months through June 30 reached US$54.9 million, or 0.54 cent per share, compared with a net loss of US$16.01 million a year ago.
Revenue in the quarter rose 49.6 percent to US$5.15 billion as the company moved into low-priced computers to target customers in emerging markets.
Lenovo is the world's fourth-biggest PC maker by shipments, behind Hewlett-Packard Co, Dell Inc and Acer Inc.
Its gross profit margin in the quarter lowered to 10.2 percent from 11 percent a year ago.
The company expects gross margin to remain under pressure in the short term due to its shift toward emerging markets and toward products for consumers and small and medium-sized businesses, Chief Financial Officer Wong Waiming said.
Computer sales in China rose 50 percent to US$2.51 billion, making up 49 percent of the group's total income. Sales from emerging markets division, including India, Latin America, Middle East and Russia, jumped 80 percent to US$821 million, or 16 percent of global sales.
Sales in mature markets, including Europe and North America, grew 38.5 percent to US$1.8 billion.
The country's largest PC maker by shipments said net income in the three months through June 30 reached US$54.9 million, or 0.54 cent per share, compared with a net loss of US$16.01 million a year ago.
Revenue in the quarter rose 49.6 percent to US$5.15 billion as the company moved into low-priced computers to target customers in emerging markets.
Lenovo is the world's fourth-biggest PC maker by shipments, behind Hewlett-Packard Co, Dell Inc and Acer Inc.
Its gross profit margin in the quarter lowered to 10.2 percent from 11 percent a year ago.
The company expects gross margin to remain under pressure in the short term due to its shift toward emerging markets and toward products for consumers and small and medium-sized businesses, Chief Financial Officer Wong Waiming said.
Computer sales in China rose 50 percent to US$2.51 billion, making up 49 percent of the group's total income. Sales from emerging markets division, including India, Latin America, Middle East and Russia, jumped 80 percent to US$821 million, or 16 percent of global sales.
Sales in mature markets, including Europe and North America, grew 38.5 percent to US$1.8 billion.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
