Lenovo cluster proclaimed Wed that its first-quarter earnings rose 23% on robust sales of PCs and smartphones, beating analyst estimates. The Chinese pc large recorded an earnings on $213.5 million for the three-month amount concluded Gregorian calendar month thirty, up from $174 million for the year-ago amount.
Lenovo cluster proclaimed Wed that its first-quarter
earnings rose 23% on robust sales of PCs and smartphones, beating analyst
estimates. The Chinese pc large recorded an earnings on $213.5 million for the
three-month amount concluded Gregorian calendar month thirty, up from $174
million for the year-ago amount. Analysts had been expecting a mean of $197.3
million, in keeping with estimates compiled by Bloomberg.
Lenovo attributable robust sales of smartphones in
China with serving to push it to a record fifteen.8 million units shipped, a
thirty-nine % increase that created it the No. one smartphone maker in China.
Lenovo is currently the fourth-largest smartphone maker within the world,
increasing its international market share to five.4 % from four.7 % a year
earlier, IDC aforementioned last month.
Lenovo's computer business that accounts for quite
eighty % of revenue continued to outstrip the general computer market. As
international portable computer shipments declined three.7 % year-over-year,
Lenovo's portable computer sales rose twelve %, the corporate aforementioned.
Worldwide shipments of PCs is anticipated to drop vi % overall, in keeping with
IDC, as shoppers still embrace mobile devices like smartphones and tablets.
Lenovo's revenue for the quarter was $10.4 billion,
Associate in nursing eighteen % increase over a similar amount last year.
"As the computer trade recovers, the smartphone
market continues its shift from premium to thought, and our acquisitions of
Motorola quality and IBM x86 proceed toward completion, we have a tendency to
see even a lot of chance to stay growing speedily," Lenovo Chief govt
principle Yuanqing aforementioned in an exceedingly statement. "Lenovo
continues to outstrip the market and meet our commitments to enhance profit in
our core businesses, whereas building robust pillars for future growth across
our entire portfolio."
Lenovo proclaimed a combine of deals in Gregorian
calendar month value $5.2 billion. The corporate aforementioned it planned to
amass IBM's x86 server business for $2.3 billion, whereas getting Motorola
quality from Google for $2.9 billion. Each acquisitions still need United States
restrictive approval, that is anticipated as shortly because the third quarter.
News Source
