Lenovo Slides Past Apple to Claim #3 PC Sales Spot in U.S., Posts Record Earnings
May 21, 2014 9:21 AM
Lenovo continues to defy the downward trending market with big gains year-over-year.
For the past year, Lenovo has been the king of the global PC market, displacing longtime leaders Hewlett-Packard and Dell. Lenovo is continuing its dominance for its fiscal 2014 period (which ended in March),
holding on to its No. 1 global ranking
. It recorded five percent year-over-year grown in PC shipments while the overall market declined by eight percent.
Lenovo also made significant inroads in the U.S. market, where HP and Dell are still in first and second place. Lenovo’s
strengthened PC lineup
allowed it to vault past Apple to claim the third place spot for its fiscal fourth quarter (January through March 2014).
“The record sales and profits that we delivered last year prove that Lenovo can grow and deliver its commitments, no matter the market conditions,” said Lenovo Chairman and CEO Yuanqing Yang. “Not only did we strengthen our leading position in PCs, but we gained three points in tablets by quadrupling sales volume and became the fastest growing major smartphone company in the world.”
Speaking of smartphones, Lenovo sold 50 million smartphones for fiscal 2014, enough to make it the world’s fourth largest smartphone marker – it is currently the second largest smartphone maker in China. This tally will only grow once Lenovo adds in its
recent acquisition of Motorola Mobility from Google
As for its financial performance during fiscal 2014, Lenovo saw a 14 percent increase year-over-year (YOY) in revenue to $38.7 billion, a 27 percent increase YOY in full-year pre-tax income to $1.01 billion, and a 29 percent increase in full year earnings to $817 million.
“The record sales and profits that we delivered last year prove that Lenovo can grow and deliver its commitments, no matter the market conditions,” said Lenovo in a statement.
"Paying an extra $500 for a computer in this environment -- same piece of hardware -- paying $500 more to get a logo on it? I think that's a more challenging proposition for the average person than it used to be." -- Steve Ballmer
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