Lenovo bets on mobile Internet profit
Print Edition
LENOVO Group Ltd, which posted a better-than-expected third-quarter net profit yesterday, is betting on profits from mobile Internet and enterprise business, its Chairman Yang Yuanqing said yesterday.
“Mobile Internet and enterprise business will become the dual profit engines of Lenovo in the future,” Yang said.
Lenovo’s third-quarter net profit rose 19 percent to US$262.1 million, beating the analysts’ estimate of US$259.8 million.
The revenue reached US$10.5 billion, a 7 percent growth year on year, thanks to increased sales of personal computers, tablets and mobile phones.
“Lenovo is standing at a new stage after posting record-high market shares and profit expansion and finishing two strategic acquisitions in the quarter,” Yang said while announcing the fiscal results.
Lenovo’s PC business revenue reached US$5.5 billion, still the biggest contributor of the company’s revenue.
The overseas markets, especially Europe, Middle East and Africa, led the growing sales of desktop computers and tablet computers in the quarter.
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