Saturday, June 15, 2024

Lenovo’s Profit Up 30%, Mobile Business Unit Continues to Grow

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Computerworld: For the fiscal quarter that ended June 30, Chinese PC maker Lenovo said that its net profit totaled $141 million, a 30 percent year-over-year increase. Revenue reached $8 billion, a 35 percent year-over-year increase.

Lenovo is the number one supplier of PCs in the Chinese market, which is now the world’s largest. Market researchers say that Lenovo is now the second largest PC vendor globally, but it trails HP’s market share by less than 1 percent. If current trends continue, Lenovo could surpass HP later this year.

In addition to PCs, Lenovo also makes smartphones, tablets and smart TVs. Sales of those products increased 173 percent over last year.

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