View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Networks
May 22, 2014

Smartphones power impressive fourth quarter Lenovo results

Company’s smartphone shipments grew 59.4% during its last quarter.

By CBR Staff Writer

Lenovo has reported that strong PC and smartphone shipments led to it recording a 25% increase in profits during its fourth quarter.

The Chinese company’s smartphone shipments grew 59.4% during the quarter to top 50 million devices, with the company also delivering 9.2 million tablets, to mark the fourth quarter in a row when the company sold more mobile devices than PCs

The company is now eying to sell 100 million smartphones and tablets in the coming year.

Lenovo outpaced HP last year to become the world’s largest PC manufacturer in terms of volume and now trying to strengthen its smartphone business as it looks to alternative sources for growth.

The company is now the second biggest smartphone vendor in China, with its Mobile Internet and Digital Home (MIDH) product business recording a 71% growth in sales over the past year to earn $1.3bn, contributing 13% of the company’s overall sales.In January, the company announced it would be acquiring Google’s Motorola Mobility’s smartphone business for $2.91bn in order to strenghten its position in this market.

Lenovo Chairman and CEO Yuanqing Yang said, "Not only did we strengthen our leading position in the PC market, but we gained three points in tablets by quadrupling sales volume and became the fastest growing major smartphone company in the world."

During its first quarter the company was the fourth-largest smartphone maker with a market share of 4.6% and it was slightly behind China based Huawei Technologies which had a market share of 4.9%, according to figures from IDC.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Lenovo chief financial officer Wong Wai Ming told Bloomberg, "We definitely know that the conventional PC business is not going to continue driving our profitability."

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.