Lenovo reports record Q3 results despite PC slowdown

financial results

Lenovo reports record Q3 results despite PC slowdown

Cliff Saran

Lenovo reported record sales of $8.4bn during its fiscal third quarter 2012, an increase of 44% year-over-year, in its latest results.

Lenovo said it experienced increased demand in commercial PC opportunities across Western Europe and North America, which resulted in year-over-year growth of 67% in PC shipments in mature markets during the third quarter, compared with an overall industry decline of 8% in mature markets.

It also increased its market share in China, the world’s largest PC market. "We saw strong progress in our mobile internet business," said Yang Yuanqing, Lenovo chairman and CEO. 

"During the quarter, Lenovo sold more than 6.5 million phones, and almost half were smartphones. Lenovo's smartphone market share in China reached double-digits in December 2011. We also see strong momentum in our tablet business. 

"All these successes demonstrate that Lenovo has built a strong foundation for the next steps beyond traditional PCs," he said.

Speaking to Computer Weekly, Gianfranco Lanci, president of Lenovo Emea, said: “In Western Europe, we are much stronger in the commercial [PCs] business than in the consumer business. We are winning large enterprise contacts in global accounts.” 

The main focus is in the pharmaceutical, telecommunications and manufacturing sectors.

Within Europe, Lanci said Lenovo's growth is all coming from desktop and notebook PCs. 

"In the UK, from April to June we grew 44%, in spite of the market shrinking. We are taking share from all the main PC makers,” he said.


Image: Thinkstock


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