Lenovo Makes Bank in Third Fiscal Quarter, Raises Share to All-Time High
Lenovo's been on a roll as of late, and as a result, it's been rolling in the dough. The PC maker reported pre-tax income of $192 million for its third fiscal quarter ended on December 31, 2011, a whopping 59 percent year-over-year increase and a record high, along with record quarterly sales of $8.4 billion. Those aren't the only personal records Lenovo shattered.
The PC maker recorded its highest-ever global market share of 14 percent, along with its highest-ever market share in China where it dominates the competition with a 35.3 percent stake, representing increases of 3.7 percent and 3.1 percent, respectively. And Lenovo's doing this while the market tries to recover from a hard drive shortage.
"Despite the worldwide hard drive shortage in the past quarter, Lenovo continued to achieve strong growth with record results in market share and revenue, as well as record high in PTI (pre-tax income) of $192 million. For the first time, Lenovo became the number one vendor globally in commercial PCs and in consumer desktop," said Yang Yuanqing, Lenovo Chairman and CEO. "We saw strong progress in our Mobile Internet business. 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-digit market share in December. 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."
Lenovo also served as further proof that desktops aren't dead, and in fact increased its desktop shipments last quarter by 32 percent year-over-year.
The PC maker recorded its highest-ever global market share of 14 percent, along with its highest-ever market share in China where it dominates the competition with a 35.3 percent stake, representing increases of 3.7 percent and 3.1 percent, respectively. And Lenovo's doing this while the market tries to recover from a hard drive shortage.
"Despite the worldwide hard drive shortage in the past quarter, Lenovo continued to achieve strong growth with record results in market share and revenue, as well as record high in PTI (pre-tax income) of $192 million. For the first time, Lenovo became the number one vendor globally in commercial PCs and in consumer desktop," said Yang Yuanqing, Lenovo Chairman and CEO. "We saw strong progress in our Mobile Internet business. 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-digit market share in December. 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."
Lenovo also served as further proof that desktops aren't dead, and in fact increased its desktop shipments last quarter by 32 percent year-over-year.
