Lenovo bucks PC trend
Lenovo has pulled it off again. Although most PC peddlers are in the red, the company reported record PC shipments, annual sales, global market share and annual pre-tax income.
In its fiscal fourth quarter, ending 31 March, Lenovo reported sales of $34 billion, up 15 percent year-on-year, as well as a record full-year pre tax income of $801 million, up 38 percent over the previous year. Better yet, Lenovo’s market share shot up to 15.5 percent for the full year.
Quarterly revenue was up four percent year-on-year, at $7.8 billion, with a 63 percent increase in pre-tax profit. Over the past 12 months the company’s PC shipments grew 10.2 percent, compared to an overall industry decline of 8.1 percent during the same period. Lenovo beat the industry for the 16th quarter in a row, and as if that wasn’t enough, it is aggressively expanding into post-PC markets.
It now has a 5.9 percent share of the smart connected device market, ranking third worldwide.
Although Lenovo smartphones are something of an oddity in the West, China is gobbling them up. It has also stepped up its game in the tablet market, although it still has a long way to go before it matches its PC success.