Emerging market sales boost Lenovo revenue


Emerging market sales boost Lenovo revenue

Warwick Ashford

Chinese PC maker Lenovo Group has reported a 33% increase in fiscal third-quarter revenue to $4.78bn, beating analyst estimates of $4.5bn.

Lenovo posted the fastest growth in sales among the world's four biggest PC makers as the reviving Chinese economy boosted demand, according to US reports.

The PC maker countered the slowdown in the US and Europe by focusing on sales in emerging markets, more than tripling sales in Hong Kong in the past year and increasing its market share in China by 2.8% to 33.5%.

Revenue from China rose 45% to $2.3bn and sales from its emerging market division, which covers India, Brazil and Russia, rose 53% to $857m, Lenovo said.

Analysts said Lenovo's strong sales network in smaller cities gives it an advantage over other global technology suppliers.

Lenovo accounted for 9.2% of global PC shipments in the quarter, up from 7.5% a year earlier, according to IDC.

Industry leader HP increased its market share to 21%, up from 19.6%, ahead of Acer's 13.4%, said IDC.

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