Lenovo sees sales grow 22% to US$5.8bn in fiscal Q3

Friday, February 18, 2011

Chinese PC manufacturer Lenovo grew sales 22% year-over-year to US$5.81bn during its third quarter of fiscal 2011, ended December 31, according to financial reports released by the company.

Lenovo reported profit attributable to equity holders at US$100mn for 3Q11, compared with US$80mn during the same quarter in fiscal 2010.

Across Latin America, the company's PC shipments during the quarter grew 31.4% year-over-year, while its regional market share grew 0.6 percentage points to 4.8%.

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According to Lenovo, the company maintained its double-digit worldwide market share at 10.2%. During fiscal Q3, Lenovo obtained its highest-ever share of the market in China at 32.2%, growing three times the local industry rate.

In emerging markets, which includes Latin America, Lenovo reported consolidated sales of US$1.1bn for Q3, representing an increase of 34% year-over-year. These markets accounted for 19% of the company's worldwide sales during the quarter, as PC shipments increased 43% - nearly triple the overall industry increase of 15.9% in the region.

Worldwide, Lenovo's PC shipments increased 20.6% year-over-year during fiscal Q3, compared with overall industry growth of 3.4% during the same period.

Lenovo said its growth was aided by investments in marketing, product development and the creation of a new mobile internet and digital home business group. Lenovo chairman Liu Chuanzhi said the company will further increase investment in brand building and product development. The company also plans to invest in its global brand, according to Lenovo CEO Yang Yuanqing.

Use this link to view the full report.