Lenovo profit rises in Q3 on strong PC sales in China

Lenovo's net profit rose 25 percent year-on-year in the third quarter.

Lenovo, China's largest PC vendor, reported strong net profit growth in the third quarter as it increased market share in China and gauged brisk sales of laptops and smartphones.

The Beijing-based company said its revenue rose 22 percent to US$5.8 billion in the three months ended Dec. 31, while its net profit rose 25 percent to $100 million.

Mobile computing led the company, with laptop PC revenue accounting for $3.4 billion of overall revenue in the quarter, up 15 percent year on year, Lenovo said in a statement.

Lenovo also saw gains in its smartphone business, which has become a new area of growth for many PC vendors. Lenovo smartphone sales doubled in the third quarter compared to the previous three months, the company said in a statement.

The company credited stronger smartphone sales to its new Mobile Internet and Digital Home business group, which it formed during the quarter to focus on mobile devices, including tablets and smartphones, as well as devices for Cloud computing and smart TV.

"Looking forward, we will invest in building our global brand, driving more product innovation and creating an even more efficient end-to-end business model... we are confident we can continue to outgrow the market and deliver strong results across our business," said Yang Yuanqing, Lenovo's CEO, in the statement.

Lenovo also signed an important agreement with NEC in Japan last month. NEC is Japan's largest PC vendor and the two companies will work under a joint venture to further grow market share in the nation.

The deal "establishes Lenovo as the leader in two out of three of the largest PC markets in the world," Lenovo said in the statement.

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags business issuesLenovofinancial results

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Dan Nystedt

IDG News Service
Show Comments

Most Popular Reviews

Deals on Good Gear Guide

Deals on Good Gear Guide


Latest News Articles


GGG Evaluation Team

Kathy Cassidy


First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni


For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell


The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi


The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott


My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.


Latest Jobs


Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?