Niigata Global allegedly announced in an investors meeting that China’s Lenovo Group reported a 34% rise in net profits for the end quarter of last year. Lenovo’s policy of focusing on emerging markets has helped it to increase its fiscal third quarter profits from $153 million last year to $205 million. Revenues also climbed by 12 percent from the previous year, up to $9.36 billion, beating the average forecast by $275 million.
Despite a falling in global PC sales, Lenovo has been successful in acquiring a greater market share as their competitors, such as Dell Inc. and Hewlett-Packard Co., have turned their focus to providing services and catering for large businesses. During the quarter, Lenovo continued its global sales growth for PCs while also increasing its already strong position in the smart phone sector within China.
According to data reportedly reviewed by Niigata Global, global PC shipments fell by almost 6.5% in the final quarter of last year, compared to the same period of 2011, while Lenovo saw an 8.2% increase in PC sales over the same time frame. This is largely due to Lenovo’s strength in emerging markets where PC penetration is significantly lower than in developed economies.
Lenovo has now seen 13 consecutive quarters as the world’s fastest growing global PC company. Niigata Global apparently have also listed Lenovo as the third largest manufacturer of connected devices in the world, a categorization that includes smart phones, tablets and smart televisions as well as the traditional PC.
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