Lenovo today announced its fourth quarter and fiscal year earnings, ended March 31, 2013. The company reported full-year sales of $34 billion, an increase of 15 percent year-over-year, while record earnings reported were $635 million, up 34 percent. For the full year, the company reported a record 15.5 percent market share with a 5.9 percent share of Smart Connected Devices.
For the fourth quarter, the company reported the revenue of $7.8 billion, four percent year-over-year growth. The company’s gross profit for the quarter grew to $963 million, an increase of 20 percent year-over-year while gross margin was 12.3 percent. Operating profit for the fourth quarter was $169 million, up 67 percent year-over-year, while earnings jumped 90 percent year-over-year to $127 million.
“Not only were we the fastest growing among all major PC players, with record market share, revenue and profitability, more importantly, our smartphone and tablet businesses saw dramatic growth,” Yang Yuanqing, Lenovo Chairman and CEO said. In fact, smartphone shipments were 3.7 times greater than last year globally and we are now number two in the China smartphone market. This has laid a solid foundation for the successful transformation of Lenovo into a PC Plus leader.”