Lenovo Group Q3 Net Profit Soars 30 Percent to $200 Million

Bangalore: Computer hardware and electronics major Lenovo Group today posted 30 per cent growth in net profit at $200 million for the third quarter ended December 31 2012.

Hong Kong-listed Lenovo Group had clocked a net profit of $154 million in the same quarter last year.

The company registered 12 per cent increase in its sales to $9.3 billion from $8.3 billion in year-ago period.

"Our 'Protect and Attack' strategy -- protection the two profit pools of global commercial PC and the China businesses, while attacking three high growth opportunities in emerging markets, global consumer and products such as smartphones, tablets and smart TVs continued to deliver results," the group CFO Wong Wai Ming told reporters.

He added that Lenovo has been the fastest growing PC Company for 13 consecutive quarters.

During the quarter, Lenovo's worldwide PC shipments grew to record 14.1 million, taking its global market share to 15.9 per cent.

The company had net cash reserves of $4.2 billion as of December 31, 2013.

Formed by Lenovo Group's acquisition of the former IBM Personal Computing Division, the company develops, makes and markets technology products and services.

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