Lenovo Delivers Strong Profits Growth
Chinese computer manufacturing giant Lenovo delivered a strong operating profit of $99 million in third quarter, nearly doubling its second quarter result. Third quarter revenue jumped 33 per cent from the same time period in the previous year and stands at US$4.8 billion.
Lenovo also said it had captured nearly 9 per cent of the global market share for PC’s, the highest share in its entire history.
Lenovo said it had improved efficiency in its supply chain, which it said had helped squeeze costs, and cut expenses.
The company said its third quarter revenue had increased by 45 per cent and stood at $2.3 billion with China accounting for nearly 47 per cent of global sales.
Other emerging markets including the Asia Pacific, Russia, and the Middle East posted a sales increase of 53 per cent compared to the previous year and stood at $857 million.
Developed market sales from countries in Europe, Australia and the US generated revenue of $1.7 billion, and accounts for nearly 35 per cent of Lenovo’s global sales.
Lenovo credited the launch of Windows 7, and its IdeaPad range for helping boost consumer sales growth.
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