Lenovo Earnings Soar As Tablet, Smartphone Sales Outpace PCs
While the rest of the PC industry remains in a profound slump, Lenovo continues to buck the trend.
Lenovo, already the world's No. 1 PC maker, reported a 9.7 percent increase in revenue to $8.79 billion in its first fiscal quarter. Most of that growth came from sales of Lenovo tablet computers and smartphones, which collectively increased 105 percent in the quarter. The company is now the world's fourth largest smartphone seller, and mobile devices account for 14 percent of its total revenue.
Laptop computer sales, which account for 52 percent of Lenovo's revenue, increased 4.7 percent. Sales of traditional PCs were flat -- but that's in a market where world PC shipments were down 11 percent, according to market researcher IDC. In a shrinking market, "flat" is the new "up."