Friday, June 18, 2021

Smart phones, tablets dominate Lenovo sales

Computer-maker Lenovo Group Ltd. sold more smart phones and tablet devices than PCs during the first quarter of this year, highlighting the Chinese company’s strategy to lessen its vulnerability to the slowing PC market.

Most of the company’s smart phones are sold in China, but recently Lenovo has started marketing its handsets in India, Southeast Asia and Russia. It also has plans to exports smart phones to North America and the rest of Europe.
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Lenovo’s K Series ultra-slim smart phone
 

Lenovo’s mobile device business saw a revenue increase of 105 per cent year-over-year for the first quarter of 2013 reaching $1.2 billion. This amounts to 14 per cent of Lenovo’s total revenue for the period.

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By contrast, the company’s PC sales slide 1.4 per cent for the same period.

Despite this, the company’s net profits are estimated a $174 million, up from $141 million in the same period a year ago. Lenovo’s revenue was $8.8 billion, which amounted to a year-over-year increase of 10 per cent.

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