Lenovo posts surprising 13% rise in net profit
By Zhu Shenshen |
November 9, 2012, Friday
|
Print Edition
Print Edition
LENOVO Group Ltd yesterday reported a surprising 13 percent annual jump in third-quarter net profit as the Chinese company expanded its personal-computer market share globally.
Its net income of US$162 million exceeded analysts' expectations for US$158 million. The revenue in the three months ended in September gained 11 percent year on year to US$8.7 billion.
At the end of the third quarter, Lenovo bagged 15.7 percent of global PC sales to beat Hewlett-Packard's 15.5 percent to rank No. 1, US research firm Garner said in a report last month.
"Our global PC market share reached another historic high, moving us closer to our dream of becoming the worldwide PC leader," said Yang Yuanqing, chairman and CEO of Lenovo. "More importantly, we not only grew rapidly, but also improved our profitability consistently as emerging markets outside of China and mature markets are growing profitably."
In China, Lenovo's revenue in the quarter reached US$3.9 billion, up an annual 20 percent.
During the July-September period, Lenovo's worldwide PC shipments grew 10.3 percent on an annual basis while global PC sales shed 8 percent.
Its net income of US$162 million exceeded analysts' expectations for US$158 million. The revenue in the three months ended in September gained 11 percent year on year to US$8.7 billion.
At the end of the third quarter, Lenovo bagged 15.7 percent of global PC sales to beat Hewlett-Packard's 15.5 percent to rank No. 1, US research firm Garner said in a report last month.
"Our global PC market share reached another historic high, moving us closer to our dream of becoming the worldwide PC leader," said Yang Yuanqing, chairman and CEO of Lenovo. "More importantly, we not only grew rapidly, but also improved our profitability consistently as emerging markets outside of China and mature markets are growing profitably."
In China, Lenovo's revenue in the quarter reached US$3.9 billion, up an annual 20 percent.
During the July-September period, Lenovo's worldwide PC shipments grew 10.3 percent on an annual basis while global PC sales shed 8 percent.
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