Lenovo skyrockets in net profit with growth of 443.8%

10:36, August 20, 2010      

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China's IT giant Lenovo Group released its fiscal report for the first quarter of the new fiscal year Thursday. According to the report, from April to June-end, the company's net profits had reached 372.59 million yuan ($54.86 million), up 443.8 percent year-on-year.

At the same period last year, the company had reported a deficit of $16 million. According to the firm, the increase in sales and the tight cost-control contributed to this immense boost in revenues.

Lenovo's sales revenue reached $5.15 billion, increasing 49.6 percent year-on-year. And of this amount, personal computers (PCs) accounted for $4.96 billion; and the mobile business contributed $182 million.

Benefited from a-58-percent notebook PC sales year-on-year, Lenovo is now the world's fourth largest notebook PC maker. Its recently launched Lephone helped boost its market share in the mobile business to 4.9 percent from the previous 0.9 percent.

China is still the firm's largest PC market, making up 47 percent of Lenovo's global market sales revenue, and other emerging countries make up 16 percent of the company's sales revenue, according to the report.

The company stated that it will keep up the firm and strategic work and that it is optimistic on the prospects of the PC market. It will continue to invest in the mobile business to consolidate its position.

Source: Global Times


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