After its first quarter financial report came out, Lenovo was in for a surprise as ranked #1 PC maker of the world. But the facts revealed that its mobile sales had overtaken its PC sales.
The new reports are evidence of a financially fit Lenovo. The revenue amounted to $8.8 billion. As for the pre-tax income, it was way up there at $215 million. Earnings meanwhile were at $174 million. Lenovo happens to be the global leader in PCs first time ever. However, the shockingly good news was that its mobile phone sales surpassed PC sales by a considerable margin. It has become the world’s fourth biggest smart phone provider with a growth rate of 132%. In China alone the growth rate is at an all-time high of 121%. The net profit for the first quarter stood at $1.2 billion. And while the competition is rabid indeed, Lenovo continues to take it all in a stride. It has a winning attitude and rakes in the profits.
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Lenovo is in fact fast becoming a PC Plus company. Innovation and creativity have skyrocketed at the firm. The slight dip in PC sales as compared to mobile sales is a momentary phenomenon which will be covered with the passage of time. As for its move into the mobile growth sector, here it has given a crushing blow to both Dell and HP. The universe of smart phones is a golden opportunity for Lenovo. If it strikes the iron while it is hot, sweet victory will be guaranteed. Meanwhile, its shares are up by 2%. And in the capacity of an industrious Chinese company, its eyes are set on a bright and beautiful future.
Lenovochairman and CEO, Yang Yuanqing said, “In a tough PC market, Lenovo became the clear #1 for the first time and continues to improve profitability. Our strong performance in PC is fueled by balanced growth, through our consistent execution of the right strategy. While driving profitable growth in our core PC business, we are rapidly transforming our company into a PC Plus company. The PC Plus market requires fast, efficient innovation as it moves quickly from premium products to mainstream ones and from mature market domination to emerging market hyper growth. This kind of market plays to Lenovo’s proven strengths. Lenovo is now better positioned than our competition to take advantage of these clear trends.”