LatAm operations the star of Lenovo's results
Latin America remained the core of Lenovo's mobile business unit, incarnated in the Motorola brand, with double-digit revenue growth and strong profitability in third fiscal quarter ended December 31.
Regarding the mobile business group (MBG), its second largest division in sales, Latin America outgrew the market by almost 30 points year-on-year and was again the strong core, with revenue growth of 37% year-over-year and high profitability, according to Lenovo.
Worldwide, though, MBG's sales were down 5% to US$2.1bn.
The Chinese manufacturer reported global revenue of US$12.9bn, up 6.3% year-over-year, but fell into the red in the quarter with US$275mn in losses, compared to profits of US$107mn in the year-ago period.
In its earnings release, Lenovo said that its key business, PC and Smart Devices (PCSD), saw sales growing 7.6% to US$9.3bn.
Most of this growth came from Latin America, where Lenovo's market share stands now at 20%, driven particularly by Brazil. According to the company, the region stood out among other geographies in the quarter.
For more on Lenovo's results, please click here.
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Get critical information about thousands of ICT projects in Latin America: what stages they're in, capex, related companies, contacts and more.
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The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
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