Lenovo sees its profits soar by 90 percent

While most PC makers are struggling, Lenovo seems to be doing very well. The Chinese company announced a net profit of $127 million on revenue of $7.8 billion for the fiscal quarter that ended on March 31, a profit growth of 90 percent year-over-year. Lenovo saw its PC sales soar to a record volume of over 52 million units, and its smartphone division increased its business by 3.7 times versus the year before. Full details at BSN.

“Despite a challenging macro-economic environment and ongoing PC industry transformation, Lenovo delivered a strong performance in the 2012/13 fiscal year. Not only were we the fastest growing among all major PC players, with record market share, revenue and profitability, more importantly, our smartphone and tablet businesses saw dramatic growth,” said Yang Yuanqing, Lenovo Chairman and CEO. “In fact, smartphone shipments were 3.7 times greater than last year globally and we are now number two in the China smartphone market,” he added. The company plans to focus on investing even further into tablet and smartphone segments of the market - along with their signature enterprise hardware.