Lenovo’s fiscal Q4 profit up 59%
23 May 2012 | 0
Lenovo’s net profit for its fiscal fourth quarter grew by 59%, as the world’s second largest PC maker saw continued growth in sales across both mature and emerging markets.
The Chinese PC maker reported that its net profit reached $67 million during the quarter ended 31 March, up from $42 million a year earlier.
The company’s sales during the quarter also reached $7.5 billion, up 54% year-over-year. Lenovo’s worldwide PC shipments in the quarter also increased 44% from a year earlier.
Last year, Lenovo rose from the world’s fourth largest PC maker to surpass Acer and Dell and take the second spot behind HP. The company did well despite a slowdown in the PC market and the rise of Apple’s iPad.
In China, where Lenovo has remained the country’s largest PC vendor for more than a decade, the company saw its PC shipments grow by 22.7% year-over-year during the quarter.
Last year, China began surpassing the US as the world’s largest PC market, a factor which has helped Lenovo maintain its strong sales growth. China makes up for 39% of Lenovo’s total sales.
Outside China, the company has seen major gains in emerging markets, which saw sales in the quarter increase by 43% year-over-year. In mature markets including the US and Japan, the company reported sales were up 85% year-over year. Mature markets account for 45% of the company’s total sales.
In North America, Lenovo saw PC shipments in the quarter increase by 26% from a year earlier, after the company launched its first ever global marketing campaign to attract consumers in North America, Japan, and select countries in Europe.
IDG News Service