Lenovo posts record Q4; profit up by whopping 59 Percent
Added On:5/23/2012 4:23:00 PM
Backed by continued growth in sales across both mature and emerging markets, Lenovo has posted record net profit for its fiscal fourth quarter. According to latest chunk of information, Lenovo’s net profit grew by 59 percent.
It is reportedly said that Lenovo’s net profit reached US $67 million during the quarter ended March 31st, up from $42 million a year earlier.
Latest stats revealed, company's sales during the quarter have reached to the benchmark of $7.5 billion, up 54 percent year-over-year. In addition, company’s worldwide PC shipments in the quarter have also jumped 44 percent from a year earlier.
It is reportedly said that Lenovo has a market share of over 15 percent in the three months ending March 31 in India.
In India, Lenovo's push to the top spot is backed by a large order from the Tamil Nadu government to supply free laptops to graduating students. Few months back, Tamil Nadu had announced procurement of 9 lakh laptops at about Rs. 14,000 a unit and Lenovo, along with HCL Infosystems and Acer, had bagged the contract.
In China, where Lenovo is already largest PC vendor for more than a decade, Lenovo’s PC shipments has grown by 22.7 percent year-over-year during the quarter.In North America, Lenovo’s PC shipment has increased by 26 percent from a year earlier.
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