Lenovo Group Ltd reported yesterday a better-than-expected jump
of 177 percent in net profit year on year in the third quarter due
to the booming laptop computer business and robust global
demand.
Lenovo, which acquired IBM's personal computer business for
US$1.25 billion, said it will switch completely from IBM to the
Lenovo brand, two years ahead of schedule, Lenovo's chief executive
William Amelio revealed.
China's top computer maker, which ranks No. 3 globally, posted a
net profit of US$105.26 million in its fiscal second quarter ended
on September 30, against US$37.89 million a year earlier. The
result beat analysts' average forecast of US$88 million.
Revenue totaled US$4.4 billion, a 20-percent growth from a year
ago.
Lenovo will continue to penetrate emerging markets including
China, the small and medium firms in developed countries and
laptops in future, Yang Yuanqing, Lenovo's chairman, said in a
statement.
Lenovo generated laptop revenue of US$2.5 billion which
accounted for 56 percent of the company's total revenue. The
company's profit margin rose to 15.1 percent in the quarter from
13.0 percent a year ago.
Among the top five vendors in Asia Pacific, Lenovo, Dell and
Acer gained market share while Hewlett Packard, the global market
leader, lost sales in the quarter, according to IDC, a US-based IT
research firm.
PC sales in the region totaled 16.1 million units in the third
quarter, up 24 percent annually.
Lenovo retained its leadership in the Asia Pacific PC market
with a market share of 21.3 percent, followed by HP, Dell, Acer and
Founder, according to IDC.
(Shanghai Daily November 2, 2007)
