With a year-over-year increase of 21% equaling $11.3 billion in revenue, it’s obvious that Lenovo had a good quarter, but how good exactly? Well, the company’s smartphone division has enjoyed the most success, especially in China, despite increased competition from the likes of Huawei and Xiaomi. In fact, Lenovo is now the world’s third-largest smartphone vendor, and still controls nearly 20% of the PC market.
Lenovo Group today announced results for its fourth fiscal quarter and full-year ended March 31, 2015. In a seasonally slow quarter with significant currency impacts, revenue was US$11.3 billion, up 21 percent year-over-year. If excluding the exchange rate impact, the growth rate would be 28 percent. Lenovo’s operational excellence delivered expectation-beating quarterly net income of US$100 million, even after US$94 million non-cash M&A related accounting charges. The M&A investments and strong organic growth created a more diverse business for Lenovo with smartphones, tablets, servers and other services contributing 37 percent of revenues in the quarter compared to 17 percent the year before. At the same time, Lenovo continued to deliver exceptional performance in PCs this year with a record 60 million shipments, and strong profitability, all while maintaining its number one position in the market for the eighth consecutive quarter.
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