Skip to content

Great year for China's Lenovo: 29 percent jump in full profits

By Catholic Online (NEWS CONSORTIUM)
5/21/2014 (3 years ago)
Catholic Online (www.catholic.org)

Maintaining status as market leader, Lenovo remains the world's biggest PC maker

China's Lenovo reported a 29 percent jump in full-year earnings. The news extends Lenovo's position as market leader in the PC industry. The company earned a record $817 million in net profits for the 12 months to March.

Lenovo ended its financial year with a strong performance in the fiscal fourth quarter.

Lenovo ended its financial year with a strong performance in the fiscal fourth quarter.

Highlights

By Catholic Online (NEWS CONSORTIUM)
Catholic Online (www.catholic.org)
5/21/2014 (3 years ago)

Published in Business & Economics

Keywords: Lenovo, PCS, Smartphones, China, growth


LOS ANGELES, CA (Catholic Online) - The company sold 55 million PCs during the year, which extended its global market share to 17.7 percent, when the overall industry saw an 8 percent fall in PC sales. Lenovo also sold 50 million smartphones and 9.2 million tablets.

"The record sales and profits that we delivered last year prove that Lenovo can grow and deliver its commitments, no matter the market conditions," the company's chairman and chief executive Yuanqing Yang said in a statement.

Starvation takes no vacation --

Lenovo also posted a record full year revenue of $38.7 billion, which is a 14 percent jump from the year before.

Lenovo ended its financial year with a strong performance in the fiscal fourth quarter. During the three months to December revenue from Europe, Middle East and Africa markets collectively surpassed revenue earned in its home market, China.

Group revenue in the fourth quarter jumped 14.3 percent to $38.7 billion.

In the same quarter, Lenovo's PC shipments to the Americas surpassed Apple for the first time, pushing Lenovo to the number three spot with a 10.8 percent market share.

Lenovo also outperformed the industry when it comes to smartphones. Shipments grew nearly 60 percent in the three months to December, outpacing the worldwide market by 28 percent.

The latest results mark the fourth quarter in a row that Lenovo sold more tablets and smartphones than PCs, and it comes at a time when the company is making efforts to expand into smartphones to offset a decline in its once staple PC business as more and more consumers are switching to mobile devices.

"Like many other vendors in the industry, Lenovo is faced with the challenge of a PC market that is under heavy assault from smartphones and tablets," Bryan Ma from consultancy IDC Asia Pacific says.

"It's true that Lenovo may be biting off more than it can chew by acquiring so many companies like Motorola Mobility and IBM's server business, but I see these as necessary - if long term - steps in the right direction.

"Motorola also gives Lenovo a much needed go-to-market route for phones into the US and Latin America, all with the protection of Google's patents."

---


'Help give every student and teacher Free resources for a world-class moral Catholic education'


Copyright 2018 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for JANUARY 2018
Religious Minorities in Asia.
That Christians, and other religious minorities in Asian countries, may be able to practise their faith in full freedom.


Comments


More Business & Economics

Jobless claims historic low! - Why workers are getting raises this year, thanks to President Trump Watch

Image of Workers are finally being dealt back into the American Dream, thanks in part to President Trump's economic policies.

Say what you will about President Trump, but American workers are starting to "win" under his administration. Jobless claims have reached a ... continue reading


Retailers are feeling great again, but how about all those tired workers? Watch

Image of Amazon workers are being replaced by robots, but they aren't being laid off either. The growth of online retail means they can fill other roles, as the workload increases.

Early reports from the retail sector show that sales between November 1 and Christmas Eve were up 4.9 percent over last year. Workers ... continue reading


President Trump signs tax reform bill, as nation looks toward uncertain 2018 Watch

Image of President Trump signed the tax cut bill early as a Christmas present for the American people.

President Trump has signed his tax reform bill, aimed at providing tax cuts for most Americans as well as simulating job growth. President ... continue reading


Is now the time to sell? Experts say Wall Street is on a bubble, here's why Watch

Image of Stocks appear to be on a bubble according to many experts.

Is now the time to sell on Wall Street? Stocks are on a bubble, according to multiple analysis and expert opinions. Fundamental market ... continue reading


Forget Winter, Recession is Coming Watch

Image of Major indicators reveal recession is coming.

The economy is about to go into recession according to several Wall Street firms. They are warning investors to prepare for an end to the ... continue reading


Never Miss any Updates!

Stay up to date with the latest news, information, and special offers.

Information
Learn about Catholic world

Catholic Online
Inform - Inspire - Ignite

Catholic Online Saints
Your saints explained

Catholic Online Prayers
Prayers for every need

Catholic Online Bible
Complete bible online

Catholic Online News
Your news Catholic eye

Daily Reading
Today's bible reading

Lent / Easter
Death & resurrection of Jesus

Advent / Christmas
Birth of Jesus

Rest of Catholic Online
All Catholic world we offer

Services
Products and services we offer

Catholic Online Shopping
Catholic medals, gifts & books

The California Network
Inspiring streaming service

Advertise on Catholic Online
Your ads on catholic.org

Catholic Online Email
Email with Catholic feel

Catholic Online Singles
Safe, secure Catholic dating

The California Studios
World-class post production service

Education
Learn the Catholic way

Catholic Online School
Free Catholic education for all

Student Classes
K-12 & Adult Education Classes

Catholic Online MasterClass
Learn from experts

School Teachers
Teacher lesson plans & resources

Catholic Media Missionaries
The New Evangelization

Support Free Education
Tax deductible support Free education

Socials
Connect with us online

Catholic Online on Facebook
Catholic social network

Catholic Online on Twitter
Catholic Tweets

Catholic Online on YouTube
Enjoy our videos

Catholic Online on Instagram
Shared Catholic moments

Catholic Online on Pinterest
Catholic ideas style inspiration

Catholic Online Logo

Copyright 2018 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2018 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.