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Lenovo reports strong quarter, becomes world's third largest smartphone maker

Lenovo has posted strong Q2 results. Together with Motorola it is now the world's third largest smartphone maker. It is now also first in PC+Tablet sales.

Published onNovember 6, 2014

Lenovo has announced its financial results for its second fiscal quarter, which ended September 30, 2014. Everything is looking good for the world’s largest PC vendor, not only does it now own Motorola, but as a result it became the world’s third largest smartphone maker.

Lenovo managed to increase its smartphone shipments by 38 percent year-over-year. Without Motorola the company is the 4th larges smartphone maker in the world, but since it acquired Motorola Mobility, it is now the third largest with only Samsung and Apple ahead of it in terms of the number of devices sold.

During Q2 Lenovo shipped 35.6 million smartphones, PCs and tablets globally.
But that isn’t all. Lenovo also became the number one PC+Tablet vendor for the first time ever. Back in May, Lenovo set itself the task of becoming the number one vendor in the combined PC+Tablet market. The execs thought they could achieve that goal by 2016, but the company managed to become the number one six quarters ahead of target. At the moment Lenovo has a 14.1 percent market share, up 1.2 percent year over year.

In total the company shipped 3 million tablets, up 30.6 percent. And these weren’t just tablet shipped to its home market, according to Lenovo the growth in tablet shipments was driven by sales outside of China.

During Q2 Lenovo shipped 35.6 million smartphones, PCs and tablets globally.

“Not only did we reach nearly 20 percent share in PCs, but we became #1 in the broader PC+ tablet market for the first time,” said Yuanqing Yang, chairman and CEO of Lenovo.

During Q2 Lenovo shipped 35.6 million smartphones, PCs and tablets shipped globally. The result was a quarterly revenue of $10.5 billion, a 7 percent increase year-over-year. This translated into $262 million of earnings, up from $219.7 million a year earlier.

Lenovo does just over one third of its business in China and about 15 percent in the rest of Asia. Just under a third of its revenue comes from Europe/Middle East/Africa (EMEA), and the rest of its sales (some 20 percent) are in the Americas. The purchase of Motorola should allow Lenovo to further boost its market share in the USA.

Now that Lenovo is the third largest smartphone maker, would you consider buying one of their phones rather than a Samsung or an Apple?

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