Lenovo chalks up a tidy profit

Strapping Chinese PC maker Lenovo states its revenues grew 22 percent year over year, walking up the stairs from $4.76 billion last year to $5.8 billion in its third fiscal quarter 2010/11. Lenovo raked in a net profit of $99.65 million, compared to $79.52 million during the same period last year.

Lenovo claimed its worldwide market share grew to 10.2 percent, an improvement of 1.5 percent. In China, the company’s home market, Lenovo says it held a “record” share of 32.2 percent, up by 2.4 percents year to year. India came in second place in terms of market share, with Lenovo having a slice of 10.3 percent.

Shipments of desktop PCs went up by 23 percent, whilst sales increased by 18 percent year over year. The desktop business accounted for 34.5 percent of Lenovo’s business. Notebook shipments grew 19 percent, boosting the segments revenue by 15 percent. In the mobile arena, revenues jumped 87 percent and shipments climbed 52 percent. Lenovo claims its LePhone managed to “recapture growth momentum”.

So far, the company has had total revenues worth $16.7 billion in its last three quarters, around $4.41 billion more than in fiscal year 2009/10. Net profits have so far amounted to $231.1 million, nearly twice as much as year earlier (($116.59 million). Its treasure trove is also relatively well filled with $3.15 billion.