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Lenovo Thursday announced record sales for its third fiscal quarter, driven primarily by strong notebook and desktop demand in the Chinese market and growth in the U.S. channel.
Its third fiscal quarter marked the eleventh consecutively that Lenovo has grown faster than the PC industry as a whole. The company reported record sales of $8.4 billion, up 44 percent from the same quarter last year, along with a gross profit of $954 million, up an even larger 47 percent year-over-year.
Despite a worldwide hard drive shortage that has shaken up the PC industry for months, Lenovo said its consolidated sales for laptop PCs jumped 30 percent year over year, totaling a healthy $4.5 billion. Laptop sales continued to be the largest contributor to the company’s worldwide sales, generating 53 percent of its total sales revenue.
The shortage didn’t seem to have much of an effect on Lenovo’s desktop sales either, which were up 32 percent compared to the same quarter in 2010, and totaled $2.8 billion in sales for the three-month period.
Lenovo, which is the world’s second largest PC maker, grew its presence in the worldwide PC market to a record market share of 14 percent. But perhaps more surprisingly, the company reported massive growth rates in its Mobile Internet business, specifically in the smartphone space. In China, Lenovo’s smartphone shipments increased 20 times year-over-year and shot up a staggering 400 percent from its second fiscal quarter. This growth was driven mostly by the successful launch of its A60 and P70 smartphones, it said.
Lenovo did not specify how many IdeaPad or ThinkPad tablets it sold during the three-month period, but said that shipments showed "good momentum."
NEXT: Lenovo's North American Channel Growth
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