[photopress:it_levovo.jpg,full,alignright]Confession of bias. As this was being written the writer bought a new Lenovo (NOT at a journalists’ discount) and it appears a most excellent piece of well-constructed kit. Now Lenovo has said its profit in the latest quarter jumped 178 % as it captured a bigger share of the global market for personal computers after a reorganization.
Earnings were $105.3 million, up from $37.9 million a year earlier.
Revenue in the period rose almost 20% to $4.4 billion.
The chairman, Yang Yuanqing said, ‘We are very happy with our consistent growth. Lenovo is no longer just a company within the Chinese market, it is a worldwide company.’
The company said it believed it had been successful in building the Lenovo brand and would stop using the IBM logo, two years ahead of schedule. This is correct. It is already doing so.
The company said PC shipments for the quarter grew by 23%, outpacing the industry average.