Lenovo posts record profits - PC Retail

Lenovo posts record profits

PC maker’s earnings rose to $265 million
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Lenovo has announced record profits and sales for Q3 2013.

The PC maker saw an earnings boost of 30 per cent from Q3 2012, hitting $265 million (£159 million).

Revenues also saw a raise, increasing by 15 per cent to reach $10.8 billion (£6.48 billion).

The statistics came on the back of a record amount of devices shipped during the time period – 32.6 million, or roughly five every second.

"We are confident we will maintain this momentum in our existing businesses," said Yang Yuanqing, CEO of Lenovo, in a statement.

"The Motorola and IBM server acquisitions that we just announced are a perfect fit with our PC Plus strategy," he added, referring to the firm’s recent purchases, which were worth over $5 billion (£3 billion).

Lenovo has stated that it expects to take over a year to turn around the Motorola business, for which it paid $2.9 billion (£1.74 billion).

"While our top priority now is full participation in the regulatory approvals process,” Yuanqing continued, “I am confident that from day one after closing, these businesses will quickly begin contributing to our performance and develop into pillars for long-term, sustainable growth."

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