Net profit in H1 nearly doubled
Source: Agencies |
November 3, 2011, Thursday
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Print Edition
Print Edition
LENOVO Group, one of the world's leading personal computer makers, reported yesterday that its profit in the first half of the year nearly doubled on strong emerging market sales.
Net profit for the six months was US$252 million, up 92 percent from US$131 million a year earlier.
The results built on Lenovo's expansion into mobile Internet, competing with Apple Inc and other foreign rivals, and in developed markets with an acquisition this year in Germany and a joint venture in Japan.
Strong growth in "emerging cities" inside China, which accounts for nearly 44 percent of Lenovo's sales, helped drive the company's strong performance. Sales in emerging markets excluding China - India, Russia, Southeast Asia and Latin America - grew 41.5 percent from a year earlier, or over three times faster than the overall market, it said.
Lenovo said flooding in Thailand was likely to impact the global supply of hard disk drives and it will "monitor the situation closely."
Net profit for the six months was US$252 million, up 92 percent from US$131 million a year earlier.
The results built on Lenovo's expansion into mobile Internet, competing with Apple Inc and other foreign rivals, and in developed markets with an acquisition this year in Germany and a joint venture in Japan.
Strong growth in "emerging cities" inside China, which accounts for nearly 44 percent of Lenovo's sales, helped drive the company's strong performance. Sales in emerging markets excluding China - India, Russia, Southeast Asia and Latin America - grew 41.5 percent from a year earlier, or over three times faster than the overall market, it said.
Lenovo said flooding in Thailand was likely to impact the global supply of hard disk drives and it will "monitor the situation closely."
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