Lenovo Beats Expectations – What PC Slowdown?
Lenovo Group today reported results for its second fiscal quarter ended September 30, 2012. Outgrowing the market in all geographies, Lenovo continued its push towards becoming the number one vendor in the PC industry, with record quarterly sales of $8.7 billion, an 11 percent increase year-over-year. While growing faster than the top four PC companies for three straight years!
Shipments of Lenovo PCs grew despite an industry decline, which is impressive. Lenovos PC shipments in North America in the second fiscal quarter increased eight percent year-over-year, in a market that fell badly by about 12 percent. In this environment, the Company picked up 1.6 share points to a record high market share in the U.S.A. of 8.3 percent.
With the strong execution of our Protect and Attack strategy, Lenovo has continued its strong and balanced growth momentum. Our global PC market share reached another historic high, moving us closer to our dream of becoming the worldwide PC leader. With four years effort, our Consumer PC business has become the worlds number one in this segment for the first time. Our smartphone business in China, which we started only two years ago, has again strengthened its number two position, said Yang Yuanqing, Chairman and CEO of Lenovo. More importantly, we not only grew rapidly, but also improved our profitability consistently, with pre-tax income reaching a record high this quarter. As emerging markets outside of China and Mature Transactional business have entered the profitable growth stage, and as our smartphone and other MIDH (mobile internet/digital home) business continue to grow, Lenovos overall profitability will continue to improve.
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