Lenovo mobile sales jump 77% to USD 1 bln
Lenovo reported sales for its fiscal third quarter to December up 12 percent from a year earlier to USD 9.4 billion.
Net profit rose 34 percent to USD 205 million, and operating profit was up 26 percent to USD 243 million. The company finished the period with net cash of USD 4.2 billion.
Lenovo said its Mobile Internet and Digital Home (MIDH) revenues, which includes smartphones, tablets and smart TVs, accounted for a record 11 percent of company revenue in the quarter, with sales up 77 percent year-over-year to USD 998 million.
For the first time, its smartphone business in China was profitable, and Lenovo estimates it had a 12.3 percent share of the Chinese market.
The company’s global PC shipments outpaced the market contraction and grew 7.9 percent, giving it a 15.9 percent market share. Lenovo recently realigned its product development and supply chain organizations to create two new groups: the Lenovo Business Group, which will focus on mainstream PCs, mobile internet and digital home products.