Reporting strong growth as it is expanding into emerging markets, Lenovo said Thursday that for the quarter ending in March its net profit more than tripled, reaching $ 42 million, while revenues increased 13% to $ 4.88 billion.
Lenovo reported that PC shipments for the quarter rose 16 percent over the same period a year earlier, compared to a decline in the global industry of 1.1%.
The company, big China PC manufacturer, also reported strong earnings for the last fiscal year, profit more than doubled, according to a published report of earnings Thursday.
Net profit of the company is increased to 273 million dollars, up to $ 129 million in the previous exercise. Revenue $ 21.6 billion, increasing by $ 16.6 billion. At the same time, the company saw PC shipments increase by 28% from the previous year.
During a webcast of earnings, CEO of Lenovo Yang Yuanqing attributed growth to the company's strategy to protect his own land in China, while increasing in regions with the development of markets such as Latin America, Africa and Eastern Europe.
Lenovo generates 46% of its turnover in China, which is called to become more large global PC sales in 2013, according to the IDC research firm. Around the world, Lenovo is the fourth largest manufacturer of PCs, behind Hewlett-Packard, Dell and Acer.
In the last year, the company also moved off its core business PC and made efforts for mobile products such as tablets and smartphones, establishing a new group of business Mobile Internet and the digital home.
Lenovo plans on releasing the tablets again for the United States and selective markets in the coming months, said Yang. Previously, the company said it will publish its tablet of LePad in the world in June.
In China, the company had already launched a smartphone device called the phone. Then this March, Lenovo has launched its tablet of LePad in the country. Objectives for the sale of the company for these products are "ambitious", said Yang. In China, the company wants to double its sales of smartphone and to capture 20% of the shares of the Tablet market, he said.
Lenovo COO Rory Read, said the feedback for the LePad in China was "very strong". The tablet was designed for the user in Chinese, by providing a Chinese language interface and native applications in the country. This sets it apart from other tablets in the Chinese market, which were the fundamental weakness of not designed for local users, reading added.
Currently, iPad Apple has a share of 78 percent in the Chinese market which tablet, according to Analysys International Beijing-based research firm.
No comments:
Post a Comment