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Lenovo becomes world’s second largest PC supplier after strong quarter

Lenovo has become the world's second largest PC supplier and plans to increase its focus on the tablet and smartphone market.

Lenovo has become the world's second largest PC supplier and plans to increase its focus on the tablet and smartphone market.

For the period ending 30 September 2011, Lenovo's worldwide PC shipments grew 36% year-on-year. This is seven times the PC industry growth rate of 5% for the same period.

Pre-tax profits reached £165m, while net earnings increased 77% during the second fiscal quarter.

Liu Chuanzhi, Lenovo's chairman, said this is the tenth consecutive quarter that Lenovo has grown faster than the industry.

"In just two quarters, Lenovo has gone from the number four to the second largest PC vendor in the world. We achieved balanced growth across all markets, product categories and geographic regions," Chuanzhi said.

Lenovo - which acquired IBM's PC unit in 2005 - plans to extend its portfolio in the smartphone and tablet market.

"Our aspiration is not only to be the leader of traditional PCs but also accomplish much more in the extended PC categories, such as the smartphone and tablet," said Yang Yuanqing, Lenovo's CEO.

Lenovo's laptop sales generated almost 60% of the company's total sales in the second quarter.

In the quarter, Lenovo announced its ThinkPad Edge E425 and E525, which are designed for the SME. Lenovo also launched its IdeaPad range of ultrabooks, tablets and laptops aimed at consumers.

In June 2011, Lenovo acquired German mobile communications company Medion AG. Lenovo said the deal will double its market share in Germany.

Lenovo also completed the formation of a joint venture company with NEC Corporation this year, forming the largest PC group in Japan.

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