Lenovo reports impressive quarterly results

Lenovo outed its financial report for the quarter ending in September 2014 and the news is great for the Chinese manufacturer. Out of $10.5 billion in revenue, the company made $262 million in profit. As of September 30, the company has $3.2 billion in net cash reserves. Compared to last year, the company saw 7% increase in quarterly revenue with the pre-tax income also increased by 24%. Lenovo also boasts record high shipment of a total of 35.6 million smartphones, PCs and tablets.

The world’s largest PC manufacturer is going strong, as Lenovo announced today that it witnessed a second-quarter profit increase to the tune of 19 percent. The rise is attributed to healthy sales of smartphones as well as PCs, with Lenovo seeing an increased market share in both categories. Lenovo posted a net profit of $262.1 million for the quarter, up from $219.7 million a year earlier. Overall revenue rose from $9.77 billion to $10.48 billion, an increase of 7 percent. According to chairman and CEO Yuanqing Yang: “Lenovo had another strong quarter that saw excellent market share gains and profit expansion. 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.”