Lenovo Reveals Fiscal Q2 Earnings, Bucks Trend of PC Sales Stagnation
November 8, 2012 9:43 AM
Lenovo is still growing faster than the overall PC industry
Lenovo was happy to announce today that it racked up record pre-tax income of $204 million during fiscal Q2 with record quarterly sales of $8.7 billion. Lenovo also set a quarterly record with a market share of 15.6%.
Lenovo also brags that as of September 30, 2012, it is sitting on net cash reserves of $3.6 billion. Lenovo's record quarterly sales of $8.7 billion represent an 11% increase year-over-year. The company also says that it is continuing its push towards becoming the top vendor in the PC industry. The Chinese company has grown faster than the top four PC companies for three straight years.
Lenovo grew its
worldwide PC shipments
during the quarter by 10.3%, even though the market was down 8% year-over-year. Fiscal Q2 marks the 14th quarter in a row Lenovo has been able to grow faster than the PC industry as a whole. That growth is undoubtedly thanks in part to Lenovo's strong presence in China, which is one of the biggest emerging markets in the PC industry.
“With the strong execution of our Protect and Attack strategy, Lenovo has continued its strong and balanced growth momentum,” said Yang Yuanqing, Chairman and CEO of Lenovo. “Our global PC market share reached another historic high, moving us closer to our dream of becoming the worldwide PC leader.”
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