Lenovo blasts back into the black
Lenovo has returned to rude financial health, after posting net profits of $79.52 million for the last quarter of 2009.
It’s a marked turnaround for the world’s fourth biggest PC maker, which only a year ago was recording a quarterly loss of $96.7 million.
Lenovo attributed its vastly improved results to strong PC sales in its home market of China, contributing to a worldwide PC shipments increase of 42% year-on-year. Laptop sales accounted for 63% of Lenovo’s overall revenue.
“For the first time since the acquisition of IBM PCD, Lenovo was the fastest growing PC company in the world,” says Yang Yuanqing, Lenovo CEO. “In the future, while we continue to expand our PC business, we also want to attack the mobile internet category to drive growth and capitalise our innovation efforts.”
Lenovo’s recovery follows strong recent results from other tech firms, including Apple, Microsoft and Asus.
Alongside new technologies launched last year, Lenovo also unveiled the innovative laptop/tablet hybrid, the IdeaPad U1, and LePhone at the Consumer Electronics Show last month.