Lenovo reports 23% jump in net profitAugust 14, 2014 - 11:31 AMT PanARMENIAN.Net - The world's biggest maker of personal computers, Lenovo, has seen a 23% jump in net profit as laptop sales outperformed industry average, according to BBC News. For the three months to June, net profit rose to $214mln. Revenue in the same quarter jumped 18% from the previous year to $10.4bn. Lenovo's core business lies in personal computers and accounts for 49% of total revenue in the quarter to June. Laptop sales rose 12% in that period, when the industry was in a downturn. Lenovo said the PC industry saw a 3.7% decline in laptop shipments for the three months to June, when compared to the same period last year. The latest figures indicate Lenovo has maintained its status as market leader for PCs, with a higher global market share of nearly 20% when compared to last year. In a statement which accompanied the earnings release, Lenovo Chairman Yuanqing said: "This has been a quarter of milestones for Lenovo - record PC share, a number three ranking in worldwide tablets for the first time and an even stronger number four global smartphone position." Lenovo has been making moves to diversify away from the shrinking global PC market. Its "Mobile Device Business" includes smartphones and tablets. For the first time ever, the company said it had sold more smartphones than PCs, with a record volume of 15.8 million units. That is a 39% gain from the previous year. Yang also said: "As the PC industry recovers, the smartphone market continues its shift from premium to mainstream, and our acquisitions of Motorola Mobility and IBM x86 proceed toward completion, we see even more opportunity to keep growing rapidly. Lenovo continues to outperform the market and meet our commitments to improve profitability in our core businesses, while building strong pillars for future growth across our entire portfolio." The company has been on an acquisition spree. Earlier this year it struck a deal to acquire IBM's low-end server unit. Lenovo is also in the process of acquiring Motorola's handset business from Google. Both deals are awaiting regulatory approval, which analysts say could come as early as the third quarter of this year. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |