Lenovo Posts Record Earnings for Fiscal Q3, Outpaces Industry Performance
January 30, 2013 8:43 AM
comment(s) - last by
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.
This article is over a month old, voting and posting comments is disabled
RE: Make good products, reap the reward
1/30/2013 7:24:29 PM
They should work well out of the box. Not everyone, especially normals, want to wipe their new machine and reinstall drivers/updates after they take it home. They want to start using it.
Microsoft knows it leads to a poorer customer experience, which is why their Signature program is so good. I wish it was standard, hardware subsidies be damned.
"This is from the DailyTech.com. It's a science website." -- Rush Limbaugh
CES 2013: Lenovo Sets the Bar High with Its 5.5", 1080p K900 "Superphone"
January 8, 2013, 11:04 PM
Microsoft "Hopes" Developers Will Make Xbox One Games Unplayable Offline
May 24, 2013, 12:13 PM
Federal Judge Sides with U.S. DOJ in Apple E-Books Preliminary Hearing
May 24, 2013, 11:46 AM
HTC Considers "Senseless" One Smartphone
May 24, 2013, 8:00 AM
HTC One Hits 5 Million Sales in First Month, Despite Issues
May 23, 2013, 4:04 PM
HTC First's Arrival in UK Canceled, Facebook Assesses "Home" Feedback
May 23, 2013, 3:02 PM
Microsoft Expands Windows Azure in Asia, Mocks iPad in New Commercial
May 23, 2013, 12:06 PM
Most Popular Articles
High School Student Creates Storage Device that Can Charge in 20 Seconds
May 20, 2013, 6:51 AM
Apples Tries to Use Decade-Old Patents to Ban Samsung Galaxy S IV
May 22, 2013, 3:00 PM
NASA Awards $125,000 Grant for 3D Printed Food on Long-Term Space Travels
May 21, 2013, 1:32 PM
Microsoft Announces Voice-Controlled "Xbox One"
May 21, 2013, 12:55 AM
Cure For Baldness Could Be on Store Shelves within Two Years
May 22, 2013, 8:29 AM
Latest Blog Posts
Lumosity: Does it Work?
May 22, 2013, 8:20 PM
Quick Note: Sony "Teases" PS4 Ahead of Xbox Reveal in New Video
May 20, 2013, 12:33 PM
Nokia Introduces Instagram-Like App of Its Own to Help Lumia Sales
May 20, 2013, 7:10 AM
Parents of Pre-Teen Drivers Commonly Practice Distracted Driving Says Study
May 9, 2013, 7:16 AM
Apple's iOS 7 Running Into Internal Delays Due to Massive Overhaul
May 1, 2013, 4:26 PM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information