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January 30, 2013

Smartphone and tablet sales boost Lenovo’s Q3 2012 results

Worldwide PC shipments grew 7.9%.

By CBR Staff Writer

Lenovo has reported a 12% increase in its revenue to $9.35bn for the third quarter, compared to $8.37bn it reported in the corresponding quarter of 2011.

The company’s profit rose 30% to $200m for the quarter, compared to $154m it recorded during the corresponding quarter last year.

Operating profit increased 26% to $243m for the quarter, compared to $193m the Chinese PC maker reported for the same period in the previous year.

Worldwide PC shipments grew 7.9% in the quarter and laptop PC shipments increased 9.5% despite a slump in PC shipments during the quarter.

Revenues from China rose 17% to $4.1bn in the quarter and accounted for 43% of global sales.

The company claims that it has been the fastest-growing PC company for 13 consecutive quarters and its smartphone business in China was profitable for the first time.

Research firm IDC has recognised Lenovo as the world’s third largest maker of smart connected devices such as tablets, PCs and smartphones.

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Lenovo chairman and CEO Yang Yuanqing said: "With the strong execution of our ‘Protect and Attack’ strategy, Lenovo has not only achieved record revenue, profit and global PC market share last quarter, but also our smartphone and tablet businesses have delivered hyper growth.

"Even more, our worldwide tablet and China smartphone businesses have become profitable," Yuanqing said.

Last week, Lenovo said that it is considering to acquire Research in Motion (RIM) as part of its plan to boost its mobile business.

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