Lenovo surges with record 15.9 p.c. market share worldwide

By : |January 30, 2013 0

NEW DELHI, INDIA: PC major Lenovo today announced its third quarter 2012-13 results in New Delhi that demonstrated a pitch in its cash reserves that reaches US$4.2 billion. It also recorded 14.1 million PC shipments with pre-tax income of US$246 million. Its quarterly sales stood at US$9.4 billion.

With growth in its 13th consecutive quarter, the company has become the fastest growing PC vendor. Lenovo said that they will refresh its mobile devices soon and will replicate the China experience in the Indian market and similar regions.

Lenovo’s EMEA region outgrew 36 points; APLA by 13 points; and North America by 18 points- the company revealed. The company has also doubled its smartphone volume in China, and as per IDC, it has become third in Smart Connected Devices segment worldwide.

SVP and CFO of Lenovo Group Wong Wai Ming said that the earnings increased by 33 per cent YoY. India’s market share, the company, said is 14 per cent. “We are looking at organic and inorganic expansion and are in talks with several companies,” he said. Ming, however, believes that post M&A, integration is difficult.

Lenovo Group President Asia Pacific & Latin America and SVP said that their key strengths include their ‘Protect and Attack’ strategy, execution, and innovation. “We focused on business groups and put innovation behind our offerings,” he said.

Amar Babu, MD at Lenovo India said that they are bullish about market opportunities in the country. The company is also making pan-India availability of its smartphone range by June 2013. Lenovo, Babu said, will introduce different products at varied price points.

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