Lenovo says quarterly profit up 90 percent

Published on NewsOK Modified: May 23, 2013 at 1:53 am •  Published: May 23, 2013
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For its full fiscal year ending March 31, Lenovo's profit rose 34 percent to $635 million on a 15 percent rise in sales to a record $34 billion.

Lenovo, with headquarters in Beijing and in Research Triangle Park, North Carolina, entered the wireless Internet market in 2010. It has launched smartphones and Web-linked tablet computers to compete with Apple Inc. and South Korea's Samsung Electronics Corp.

The company said quarterly sales in North America, traditionally a weak area for Lenovo, rose 13 percent over a year earlier to $1.2 billion, accounting for 15 percent of the global total. It said its market share rose 1.8 percentage points to 9.3 percent.

In its home China market, quarterly sales rose 8 percent to $3.1 billion and revenue for mobile Internet products rose 74 percent.

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Lenovo Group: www.lenovo.com