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Lenovo reports 80 mln USD quarterly profit on strong sales

Updated:2010-02-05 14:13:16

Lenovo Group., the world's fourth largest personal computer manufacturer, posted a net profit of 80 million U.S. dollars in its third fiscal quarter from Oct. 1 to Dec. 31, compared with a 97 million loss in the same period of 2008.

The company attributed the growth to strong sales revenue, which increased 33 percent year on year to 4.8 billion U.S. dollars during the quarter, prompting its global market share to stand at 9 percent, according to its business report filed to the Hong Kong Stock Exchange Thursday.

Its sales in China rocketed 45 percent year on year to 2.3 billion U.S. dollars, accounting for 47 percent of the total, thanks to a a brisk market boosted by the Chinese government's stimulus package.

Domestic market share expanded 2.8 percentage points to 33.5 percent, setting the biggest quarterly increase in nine years, said the company.

The company also benefited from consolidated PC sales in both emerging and mature market.

By the end of December, total sales revenue in the emerging markets, including India, Russia, and the Middle East regions, totaled 857 million U.S. dollars, up 53 percent year on year. That for the mature markets, including West Europe, Japan and Australia, advanced 13 percent to 1.7 billion U.S dollars, according to the report.

"The company will focus on the mobile Internet market this year while maintaining its competitiveness in the PC market," said Chief Executive Officer Yang Yuanqing.

At Dec. 31, 2009, total assets of the group amounted to 9.3 billion U.S. dollars.

 

 

Source:http://news.xinhuanet.com

 

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