Lenovo's Fiscal Q4 Profit up 59 Percent
Lenovo's net profit for its fiscal fourth quarter grew by 59 percent, as the world's second largest PC maker saw continued growth in sales across both mature and emerging markets.
The Chinese PC maker reported on Wednesday that its net profit reached US$67 million during the quarter ended March 31, up from $42 million a year earlier.
The company's sales during the quarter also reached $7.5 billion, up 54 percent year-over-year. Lenovo's worldwide PC shipments in the quarter also increased 44 percent from a year earlier.
Last year, Lenovo rose from the world's fourth largest PC maker to surpass Acer and Dell and take the second spot behind HP. The company did well despite a slowdown in the PC market and the rise of Apple's iPad, according to analysts.
In China, where Lenovo has remained the country's largest PC vendor for more than a decade, the company saw its PC shipments grow by 22.7 percent year-over-year during the quarter.
Last year, China began surpassing the U.S. as the world's largest PC market, a factor which has helped Lenovo maintain its strong sales growth, according to analysts. China makes up for 39 percent of Lenovo's total sales.
Outside China, the company has seen major gains in emerging markets, which saw sales in the quarter increase by 43 percent year-over-year. In mature markets including the U.S. and Japan, the company reported sales were up 85 percent year-over year. Mature markets account for 45 percent of the company's total sales.
In North America, Lenovo saw PC shipments in the quarter increase by 26 percent from a year earlier, after the company launched its first ever global marketing campaign to attract consumers in North America, Japan, and select countries in Europe.