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Lenovo grows Q4 earnings 25%

2014-05-21 08:50:00| Telecompaper Headlines

(Telecompaper) Lenovo reported revenue of USD 9.4 billion for its fiscal fourth quarter to March, up 19 percent year-on-year. Laptop sales rose 16 percent to USD 5.1 billion, desktop PC sales were up 14 percent to USD 2.7 billion, and mobile phone and tablet sales increased 71 percent to USD 1.3 billion. Lenovo said its smartphone shipments grew 59.4 percent in the fourth quarter, outpacing the global market by 28 percent. The company also reported an average 25 million downloads a day for its Lenovo App store. The group's quarterly operating profit increased 37 percent to USD 231 million, and net earnings were up 25 percent to USD 158 million. Lenovo said it again outperformed the PC market, which contracted 8 percent last year. The company added 2.1 points of market share to take 17.7 percent of the PC market last year. The company sold in total 114 million devices over the fiscal year, up 37 percent from a year earlier. PCs and tablets accounted for 64 million units, and the remainder were mobile phones. 

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