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Lenovo’s full year profit increases 29%

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Lenovo’s full year profit increased 29% and extends its lead in the Personal Computer industry.

Lenovo is known as the largest PC maker in the world earning a record breaking net profit of $817 from March last year to the same month this year. The company’s profit came from its PC sales which reached to 55 million during the 12 months. That figure extends Lenovo’s global market share to about 17.7%. This happened despite the PC industry saw an 8% decrease in sales. Besides PCs, Lenovo was also able to sell 9.2 million tablets and 50 million smartphones.

According to Lenovo chairman and chief executive Yuangqing Yang, the growth in profit and the sales made by the company are proofs that they can deliver and grow despite the condition of the market.

The year before, Lenovo made a 14% increase in their revenue for the full year, which is another record breaking $38.7 billion.

Lenovo made a very strong performance in the fourth quarter of its fiscal year. During the last three months of 2013, the giant PC Company made more revenue in the Europe, Middle East and Africa market than in China, its home market. The company’s revenue from October to December last year made a 14.3% increase.

In that quarter, Lenovo also surpassed Apple in terms of PC shipments to North and South America. Now, with 10.8% market share, Lenovo ranks number three in the world. This is the first time that Lenovo surpassed Apple.

Besides PC shipments, Lenovo is also slowly taking the lead in the smartphones business, with its shipment growing to 60% in the last quarter. It outperformed the global market by 28%.

Lenovo has more tablets and smartphones sales than PC. It is clear that Lenovo is moving in to the smartphone business since the PC business is slowly declining due to more people shifting to mobile devices.

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