Lenovo turns in a profit

Chinese company Lenovo said it has turned in a profit for its fiscal fourth quarter and increased its sales at the expense of other PC manufacturers.

For its fourth quarter, it made a profit of $13 million, compared to a loss of $264 million in the same quarter last year.

Sales for the fourth quarter were sharply up by 56 percent year on year to amount to $4.3 billion compared to $2.77 billion in the equivalent quarter last year.

Lenovo’s chairman, Liu Chuanzhi (pictured), said that in the last quarter his company was the fastest growing of the top five PC firms for the second quarter running. He claimed it also achieved its highest ever global market share.

The company seemed particularly proud of its growth in emerging market, and claimed it sold three times more than the rest of the industry, turning in sales of 95 percent, compared to 33 percent for the rest.  

Its year on year shipments, it said, grew 104 percent in India, 70 percent in Southeast Asia, and 105 percent in Latin America.

In China it posted $2 billion in consolidated sales in the fourth quarter – that’s a jump of 67 percent year on year – and Lenovo said the Chinese market represented 45.3 percent of the company’s sales worldwide.