Lenovo reported results for its second fiscal quarter ended September 30, 2012. The company reported the record quarterly sales of $8.7 billion, an 11 percent increase year-over-year. The pre-tax income for the quarter was at $204 million while record quarterly sales of $8.7 billion. The company now have the record market share of 15.6 percent while reported the basic EPS of 1.58 US cents, or 12.25 HK cents. The net cash reserves of US$3.6 billion (as of September 30, 2012).
“With the strong execution of our Protect and Attack strategy, Lenovo has continued its strong and balanced growth momentum. Our global PC market share reached another historic high, moving us closer to our dream of becoming the worldwide PC leader. With four years’ effort, our Consumer PC business has become the world’s number one in this segment for the first time. Our smartphone business in China, which we started only two years ago, has again strengthened its number two position,” said Yang Yuanqing, Chairman and CEO of Lenovo.
“More importantly, we not only grew rapidly, but also improved our profitability consistently, with pre-tax income reaching a record high this quarter. As emerging markets outside of China and Mature Transactional business have entered the profitable growth stage, and as our smartphone and other MIDH (mobile internet/digital home) business continue to grow, Lenovo’s overall profitability will continue to improve.”
