Chinese PC maker Lenovo has reported a 4% increase in revenues to $7.8bn during the fourth quarter of 2012 that ended on March 31, 2013 and a 15% year-on-year (YoY) rise in full year sales to $34bn.
For the fourth quarter, Lenovo’s gross profit grew 20% YoY to $963m, compared to the corresponding period prior year.
The company recorded a gross margin of 12.3% during the quarter and 67% YoY growth in the operating profit to $169m, while its earnings went up by 90% to $127m.
Lenovo chairman and CEO Yang Yuanqing said that the company had delivered a strong performance in the 2012-13 fiscal year, despite a challenging macro-economic environment and ongoing PC industry transformation.
"In fact, smartphone shipments were 3.7 times greater than last year globally and we are now number two in the China smartphone market," Yuanqing added.
"Going forward, we will focus our investments on the fast-growing tablet, smartphone and enterprise hardware areas, while working to enhance the profitability of our core PC business."
During the fiscal year, the company had 15.5% market share in the PC Plus area along with a 5.9% share of Smart Connected Devices segment.
Regionally, Lenovo China’s sales increased 4.9% to $3.1bn for the quarter accounting for 40% of the company’s worldwide sales and increased in revenue to $228m.
Global laptop PC sales of the company decreased by 2% during the fourth quarter to $4.2bn, which accounted for 53% of its overall sales.
