Lenovo's latest quarter result show record profit

Lenovo logoLenovo outed its financial report for the quarter ending in September 2014 and the news is great for the Chinese manufacturer. Out of $10.5 billion in revenue, the company made $262 million in profit. As of September 30, the company has $3.2 billion in net cash reserves.

Compared to last year, the company saw 7% increase in quarterly revenue with the pre-tax income also increased by 24%. Lenovo also boasts record high shipment of a total of 35.6 million smartphones, PCs and tablets.

Lenovo's chairman and CEO Yuanqing Yang commented that the company enjoys excellent market share gains and profit expansion. In the last month alone, Lenovo managed to close the deals on its Motorola Mobility and IBM x86 acquisitions.

In smartphone sales, the company saw a 38% rise in shipments on a year-over-year basis. This alone made it reach the fourth spot below Huawei, but Motorola's acquisition bumps it to third.

"With these two deals, we are now #3 in both businesses, but we are not satisfied. We will replicate our success in PCs by outgrowing the market to challenge the top two. Mobile and Enterprise are now our new growth engines, and over time, like PCs, they will become our profit pool as well,", he added.

Throughout the globe, Lenovo is doing extremely well with revenue from China and EMEA regions of $3.8 billion and $3 billion, respectively. The laptop sales were the largest contributor to the company's bottom line with $5.5 in revenue globally. Mobile devices account for 13% of the company's total revenue, but they were down by 6% compared to the same period last year. However, Lenovo seems optimistic as it's now present in more than 45 markets.

Source: GSMArena

Tags: Lenovo, report

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Consumer group recommends iPhone 8 over anniversary model
 
LTE connections wherever you go and instant waking should come to regular PCs, too
 
That fiction is slowly becoming a reality
 
The Snapdragon 845 octa-core SoC includes the Snapdragon X20 LTE modem
 
Human moderators can help make YouTube a safer place for everyone
 
Google says Progressive Web Apps are the future of app-like webpages
 
All 2018 models to sport the 'notch'
 
The biggest exchange in South Korea, where the BTC/KRW pair is at $14,700 now
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
     12
3456789
10111213141516
17181920212223
24252627282930
31      




Poll

Do you use microSD card with your phone?
or leave your own version in comments (4)