Computer Electronics

Lenovo's Sales Rise on Wireless Growth

14 August 2014

Lenovo Group reported its first fiscal quarter results with revenue rising to $10.4 billion, an 18 percent increase year-over-year on the strong performance of the company’s smartphone and tablet sales.

The Beijing-based company said its earnings grew 23 percent during the quarter to $214 million while gross profit increase 13 percent year-over-year to $1.3 billion, with gross margin at 13 percent.

Lenovo said that during the first fiscal quarter its smart connected device shipments grew by 28 percent year-over-year and maintained its position as the world’s largest PC maker for the fifth consecutive quarter ending the quarter with 19.4 percent market share.

In tablets, Lenovo said it became the third largest vendor in the world with 2.3 million devices shipped and growth of 67 percent. For the first time on record, Lenovo sold more smartphones than PCs with 15.8 million units, up 39 percent year-over-year. Lenovo said it became the No. 1 vendor in China for selling smartphones. The Mobile Device Business – including smartphones and tablets – increased 32 percent year-over-year to $1.6 billion, or 15 percent of the total revenue during the quarter.

Yuanqing Yang, chairman and CEO of Lenovo, said in a statement that the company had record PC share, a No. 3 ranking in worldwide tablets for the first time and a strong position as the No. 4 supplier of global smartphones. Yang said that the PC industry is recovering and the smartphone market continues to shift from premium to mainstream and with Lenovo’s acquisitions of Motorola Mobility and IBM x86 “we will see even more opportunity to keep growing rapidly.”

Related link:

News articles:

Lenovo Expands Beyond PCs

Lenovo Recalls ThinkPad Battery Packs

ITC to Investigate MediaTek at Freescale's Request

Intel to Buy Former Axxia Networking Business for $650M

SMIC Teams on China’s First 300-mm Testing Facility

Powered by CR4, the Engineering Community

Discussion – 0 comments

By posting a comment you confirm that you have read and accept our Posting Rules and Terms of Use.
Engineering Newsletter Signup
Get the GlobalSpec
Stay up to date on:
Features the top stories, latest news, charts, insights and more on the end-to-end electronics value chain.
Weekly Newsletter
Get news, research, and analysis
on the Electronics industry in your
inbox every week - for FREE
Sign up for our FREE eNewsletter
Find Free Electronics Datasheets