Lenovo reports strong earnings

CNC report from Beijing & Shandong
Added On August 16, 2013

The Lenovo Group Co Ltd, China's biggest personal computer (PC) maker, reports a 23 percent jump in profits, highlighting the company's continued focus on leading in the PC-plus era.

Lenovo announced on Thursday morning that its revenues for the first fiscal quarter ended June 30 rose 10 percent year on year to stand at 8.787 billion U.S. dollars.

And its net profits totaled 174 million dollars.

According to the company's press release, it is the frist time that Lenovo was named the world's largest PC vendor in terms of market share.

Lenovo's worldwide PC shipments for fiscal Q1 were 12.6 million units, the 17th quarter in a row that Lenovo outperformed the industry as a whole.

Meanwhile, the company became the third largest supplier of smart-connected devices in the world as its smart devices shipments grew 41 percent year on year.

For the first time, Lenovo's combined sales of smartphone and tablets overtook its PC sales during this quarter.

Sales of smartphones, tablets and other mobile devices more than doubled from the same period last year.

According to the firm, it is now the second-biggest smartphone seller in China, with shipments increasing by 121 percent from last year.

Lenovo says it is also expanding into other emerging markets.