PTI

Lenovo Q2 net income doubles to USD 53 mn

Thu, Nov 5 09:56 PM

Beijing/New Delhi, Nov 5 (PTI) Personal computer maker Lenovo Group today registered an over two-fold growth in net income at USD 53 million in the second quarter ended September 30, driven by good demand in the emerging markets. In the year-ago period, the company had a net income of USD 23 million, Lenovo Group said in a statement.

Total sales of the company, however, decreased to USD 4.1 billion in the second quarter from USD 4.32 billion in the same period last fiscal. Lenovo which has reached its "highest worldwide market share ever" said its worldwide PC shipments grew 17 percent year-over-year.

In comparison, industry PC shipments rose 2.3 percent worldwide for the same period. "Our results are moving in the right direction and we are particularly pleased with our performance in China," Lenovo Chairman Liu Chuanzhi said.

Lenovo China posted USD 2 billion in sales in the second of 2009, an increase of 9 per cent year-on-year. China accounts for 49 per cent of the company''s worldwide sales.

Also, the company had previously announced several restructuring programmes to tackle the global financial crisis that helped the company save millions of dollars.

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