Lenovo Posts Record Earnings for Fiscal Q3, Outpaces Industry Performance
January 30, 2013 8:43 AM
Lenovo outpaces the industry again
Lenovo has offered up its financial results for fiscal Q3 and is reporting several record-breaking metrics. Lenovo witnessed record pre-tax income of $246 million on earnings of $205 million for the quarter. Lenovo is also announcing record quarterly sales of $9.4 billion.
The Chinese computer maker shipped 14.1 million PCs, grabbing 15.9% of the global computer market (an increase of 7.9% compared to previous quarters). Lenovo made this impressive gain despite the fact that the overall computer market was down 7.8% year-over-year. This was the 15th quarter in a row that Lenovo was able to grow faster than the industry overall.
Lenovo also announced that as of December 31, 2012 it was sitting on net cash reserves of $4.2 billion.
IDC ranks Lenovo as the world's third largest smart connected device manufacturer including tablets, PCs, and smartphones.
"With the strong execution of our 'Protect and Attack' strategy, Lenovo has not only achieved record revenue, profit and global PC market share last quarter, but also our smartphone and tablet businesses have delivered hyper growth. Even more, our worldwide tablet and China smartphone businesses have become profitable," said Yang Yuanqing, chairman and CEO, Lenovo Group.
reports that Lenovo is also set to make a significant push into the overseas smartphone market. The company is already the second largest smartphone vendor in its home country of China and currently sells smartphones in Russia, Indonesia, the Philippines, and Vietnam. Lenovo shipped 9.4 million phones in its quarter spanning October to December of 2012. Out of the 9.4 million shipped, 9 million of those were smartphones and were sold in China.
Lenovo was showing off its
gorgeous 5.5” K900 “superphone” at CES
, but unfortunately, that model (and Lenovo’s other smartphones) won’t be coming to the U.S. market anytime soon.
"We basically took a look at this situation and said, this is bullshit." -- Newegg Chief Legal Officer Lee Cheng's take on patent troll Soverain
CES 2013: Lenovo Sets the Bar High with Its 5.5", 1080p K900 "Superphone"
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