Lenovo is, of course, the Chinese company that purchased IBM’s unprofitable PC business two years ago and has since struggled to control costs associated with the acquisition.
The company now seems to be staging a turnaround. For its recent second fiscal quarter, Lenovo earned $105.3m compared to $37.9m a year ago. Lenovo said all its geographies saw double-digit revenue increases, which helped push total revenue nearly 20% higher to $4.4bn for the quarter. It also claimed double-digit growth in both desktop and notebook sales.
Lenovo claimed that its PC shipments outpaced the industry, by growing 23% year-over-year.
Our strong performance in the second quarter once again proved that Lenovo has successfully completed the integration phase of our acquisition, and we are now entering a new phase of profitable growth, said Lenovo chair Yang Yuanqing, in a statement.
