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Lenovo Reports 12-Fold Increase in Profits
Aug 2, 2007
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Lenovo Group Ltd., the world's No. 3 personal computer maker, reported a 12-fold increase in quarterly profits. Profits rose to US$66.8 million for the April-June quarter on strong sales in China and the Americas, up from $5.2 million in the same period a year ago, the company said. Consolidated revenue during the quarter rose 13% to $3.9 billion.

Lenovo regained its ranking as the world's No. 3 PC manufacturer in the last quarter after dropping to fourth place behind Taiwanese rival Acer Inc. in the previous quarter, according to research company Gartner Inc. It had 8% of the global market, behind U.S.-based Hewlett-Packard Inc. and No. 2 Dell Inc., according to Gartner.

Lenovo still depends heavily on sales in China, where Wang said PC shipments grew 30%i n the last quarter, giving the company 35.2% of the market. But the company is making progress at building its brand in foreign markets, Wang said. He said PC shipments in India grew 22 percent and by double digits in Germany, France, Britain and Southeast Asia. (AP)

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