Lenovo seizes record share as global PC market slows
October 31, 2013 Category Uncategorized
Lenovo increased its market share to remain the world’s top supplier of personal computers in the three months to September, despite total industry shipments dropping to a five-year low. IDC and Gartner said Lenovo’s personal computer shipments rose about 2% year-on-year in the quarter to 14.1 million units. Lenovo, which operates in more than 160 countries, expanded faster than the overall personal computer market for the 18th consecutive quarter. The company also seized its highest ever quarterly market share, which IDC put at 17.3% and Gartner at 17.6%. That was in contrast to the sixth consecutive quarter of declining shipments for the whole industry. IDC said the global market contracted 7.6% year-on-year to 81.6 million units, while Gartner estimated an 8.6% drop to 80.3 million. Angela Lee, Spokeswoman for Lenovo, said that “the PC industry still represents a USD200 billion opportunity and offers Lenovo substantial room for profitable growth.” In its fiscal first quarter ended June, Lenovo beat analysts’ estimates when it reported a 23% year-on-year increase in net profit to USD174 million on the back of growth in all its geographic markets. Revenue climbed 10% to USD8.7 billion, as it cornered a 16.7% share of the global personal computer market that quarter. Strong growth in the Americas, Europe, the Middle East and Africa, offset declining personal computer shipments in the Asia-Pacific market”. A report by Barclays predicted Lenovo would “continue growing sales year-on-year even amid a slow global PC demand environment”, the South China Morning Post reports. Lenovo is also the second-biggest smartphone supplier and No 3 media tablet brand in China.
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