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Lenovo's profits soar 23% based on smartphone, mobile growth

No. 1 global PC manufacturer Lenovo has watched its profits rise 23 percent based on the company's mobile efforts

Michael Hatamoto | Aug 14, 2014 at 04:33 am CDT (0 mins, 48 secs reading time)

No. 1 global PC manufacturer Lenovo saw its first quarter net profit climb 23 percent as the company's smartphone and mobile sales surge. The smartphone sector ramped up 39 percent, while tablet and other mobile devices have seen impressive sales for the company.

Lenovo's profits soar 23% based on smartphone, mobile growth | TweakTown.com

Revenue increased from $8.79 billion up to $10.4 billion during the first quarter, also boosted by PC shipments continuing to outsell Hewlett-Packard, Dell, and other rivals. The Chinese company will continue to look to diversify its product offerings for its customers.

"We believe Lenovo's PC business will remain solid given the better global PC outlook," said Ric Cheng and Kirk Yang from Barclays, in a recent report. "Its smartphone shipment momentum is likely to pick up."

The Chinese company quickly dominated its home PC market, but made strong acquisitions, such as IBM's personal computing division also helped internationally. In the U.S. market, Lenovo sales reps work directly with businesses and value-added resellers (VARs) to boost sales and marketing efforts.

Michael Hatamoto

ABOUT THE AUTHOR - Michael Hatamoto

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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