Chinese electronics giant Lenovo has revealed quarterly revenues of US$8.8bn, up 10pc on last year, and earnings of US$174m. The company revealed that sales of smartphones and tablets have surpassed PCs for the first time.
The company is now the world’s biggest personal computer manufacturer, with the highest ever quarterly market share of 16.7pc, up 1.7pc year-over-year.
Lenovo outperformed the industry as a whole, which was down 11pc year-over-year.
Sales of PCs and smart devices grew 41pc year-over-year and during the company’s first quarter the company became the world’s largest smartphone supplier.
Lenovo reported the fastest growth among the world’s top 5 vendors, growing 132pc in the recent quarter.
“In a tough PC market, Lenovo became the clear No 1 for the first time and continues to improve profitability. Our strong performance in PC is fuelled by balanced growth, through our consistent execution of the right strategy,” said Yang Yuanqing, chairman and CEO, Lenovo.
“While driving profitable growth in our core PC business, we are rapidly transforming our company into a PC Plus company. The PC Plus market requires fast, efficient innovation as it moves quickly from premium products to mainstream ones and from mature market domination to emerging market hyper growth.
“This kind of market plays to Lenovo’s proven strengths. Lenovo is now better positioned than our competition to take advantage of these clear trends,” Yuanging said.