Lenovo posts strongest results
By Zhu Shenshen |
February 5, 2010, Friday
|
Print Edition
Print Edition
LENOVO Group Ltd yesterday posted its strongest results in six quarters, thanks to the robust Chinese economy and a Windows system update, which boosted demand for personal computer products.
Net profit for Lenovo, the world's No. 4 PC maker, came to US$80 million in the fiscal third quarter ended on December 31, against a loss of US$96.7 million in the same period a year ago. The net profit beat analysts' expectations of US$55 million to US$60 million.
Lenovo's revenue jumped 33 percent from a year ago to US$4.8 billion, according to Lenovo's statement to the Hong Kong Stock Exchange.
"In China, the government is currently encouraging the convergence of three networks (telecom, broadcast and the Internet) by formulating new standards. This gives computer firms, especially Lenovo, significant opportunities for development," its chairman, Liu Chuanzhi, said in the statement.
Lenovo's market share in China rose 2.8 percentage points during the quarter, the company's largest single-quarter market share increase in nine years, to bring it to an all-time high of 33.5 percent. Lenovo's revenue in China in the quarter soared 45 percent annually to US$2.3 billion, which accounted for 47 percent of global sales, according to China's No. 1 PC maker.
Lenovo's global market share rose to 9 percent by the end of the quarter from 7.5 percent a year ago, according to the firm.
During the third quarter, the global notebook market was boosted by the introduction of Windows 7 and Lenovo launched several new IdeaPad consumer laptops to take advantage of Microsoft's new operating system. The company also introduced the new ThinkPad with AMD chip, the Hong Kong-listed firm said.
Lenovo unveiled three new models, including the LePhone smartphone that uses Google's Android system, at the Consumer Electronics Show in Las Vegas, the world's biggest fair of its kind, last month.
Net profit for Lenovo, the world's No. 4 PC maker, came to US$80 million in the fiscal third quarter ended on December 31, against a loss of US$96.7 million in the same period a year ago. The net profit beat analysts' expectations of US$55 million to US$60 million.
Lenovo's revenue jumped 33 percent from a year ago to US$4.8 billion, according to Lenovo's statement to the Hong Kong Stock Exchange.
"In China, the government is currently encouraging the convergence of three networks (telecom, broadcast and the Internet) by formulating new standards. This gives computer firms, especially Lenovo, significant opportunities for development," its chairman, Liu Chuanzhi, said in the statement.
Lenovo's market share in China rose 2.8 percentage points during the quarter, the company's largest single-quarter market share increase in nine years, to bring it to an all-time high of 33.5 percent. Lenovo's revenue in China in the quarter soared 45 percent annually to US$2.3 billion, which accounted for 47 percent of global sales, according to China's No. 1 PC maker.
Lenovo's global market share rose to 9 percent by the end of the quarter from 7.5 percent a year ago, according to the firm.
During the third quarter, the global notebook market was boosted by the introduction of Windows 7 and Lenovo launched several new IdeaPad consumer laptops to take advantage of Microsoft's new operating system. The company also introduced the new ThinkPad with AMD chip, the Hong Kong-listed firm said.
Lenovo unveiled three new models, including the LePhone smartphone that uses Google's Android system, at the Consumer Electronics Show in Las Vegas, the world's biggest fair of its kind, last month.
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