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Lenovo ups ante on rivals as Q3 profits bounce

Microscope contributor

The renaissance at Lenovo continued in Q3 as PC growth outpaced all its major rivals for the fifth consecutive quarter, a far cry from the dark days of recent years.

The Chinese giant banked profits of $100m, up 25% on the same period a year ago with sales rising 22% to $5.8bn.

"The board is satisfied with Lenovo's performance in this quarter in all aspects of measurement," said Lenovo Chairman Liu Chuanzhi.

In its homeland, sales climbed 18% to $2.7bn to account for 46% of the firm's worldwide revenues, and shipments increased 12.7%, triple the market average.

Revenues in the emerging markets went up 34% to $1.1bn with unit sales rising 43%, again three times the growth rates in the overall market.

Meanwhile, in the mature markets turnover went up 22% to $2bn as shipments rose 23% in the face of an overall market decline of 3.6%.

"By executing our 'Protect and Attack' strategy, we were able to grow across all regions, product types and customer segments," said Lenovo CEO Yang Yanquing.

Lenovo has continued to tweak its channel engagement model in the last few years and this appears to be bearing fruit though the firm has yet to break into the top five major PC players in the UK.

Related Topics: Desktop PCs, VIEW ALL TOPICS

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