Lenovo Group Limited (0992) Is Selling More Phones And Tablets Than PCs
Lenovo Group Limited (HKG:0992) is considered the world’s largest PC manufacturing company. The company is now selling more smartphones and tablets than PCs even though IDC considers Lenovo as the world’s largest PC vendor. Lenovo Group Limited (HKG:0992) shipped around 12.6 million PCs during Q1 and they sold over 11 million smartphones in China alone.
The company’s smartphone sales grew 130% globally and their tablet sales tripled over the past year.
Lenovo Group Limited (HKG:0992) is basing these numbers on raw sales, but 51.6% of their revenues are still from laptop sales and 28.2% is from desktops. Smartphones compromise of 13.7% of their revenues.
Lenovo Group Limited (HKG:0992) reported $8.8 billion in revenues for the first quarter with profits of $170 million, which is a record for the company.