Lenovo India up 11%
By Sumir Singh

PC giant Lenovo, in its First Quarter 2011 – 12 results, has revealed that with its market share of 12.2 percent, it is now the world’s third largest personal computer vendor.

Other highlights of the quarter are

- Record quarterly sales of US$5.9 billion
- Pre-tax income of US$123 million
- Profit attributable to equity holders of US$108 million
- Basic EPS of 1.11 US cents, or 8.63 HK cents
- Net cash reserves of US$3.6 billion (as of June 30, 2011)
 
Lenovo grew faster than any of the top five PC manufacturers, helping the Company to become the world’s third largest PC vendor in total shipments. During the first quarter, Lenovo’s worldwide PC shipments grew 23.1 percent year-over-year. Comparatively, industry PC shipments increased just 2.7 percent worldwide for the same period, marking the ninth quarter in a row that Lenovo has grown faster than the industry.
 
Lenovo China recorded US$2.8 billion in consolidated sales in the first fiscal quarter, accounting for 47.9 percent of the Company’s worldwide sales. During the quarter, Lenovo further strengthened its number-one position in China by 2.3 points, which resulted in an industry-leading market share in China of 31.7 percent, widening the gap between Lenovo and its major rivals. Lenovo’s PC shipments in China increased 23.4 percent year-over-year in the quarter, exceeding the overall industry increase of PC shipments in China of 14.3 percent.
 
In Emerging Markets, Lenovo’s consolidated sales totaled US$1 billion for the first fiscal quarter, or 17.5 percent of the Company’s worldwide sales. Lenovo’s PC shipments across the region increased dramatically by 46.5 percent in the quarter, more than three-times faster than the industry growth rate in this region of 14.7 percent year-over-year. Lenovo saw market share gains throughout the region for a total market share of 6.9 percent, highlighted by the Company’s record-high double-digit market share in India at 10.8 percent after a 3.6 points gain in that country during the first quarter year-over-year.
 
In Mature Markets, Lenovo posted US$2.1 billion in consolidated sales, or 34.6 percent of the Company’s worldwide sales during the first fiscal quarter. Despite a year-over-year 9.4 percent decrease in the industry’s PC shipments across the region, Lenovo grew its PC shipments in the quarter by 8.5 percent. Of particular note, Lenovo’s PC shipments in North America grew 30.8 percent, compared to the market that fell four percent, allowing the Company to pick up 1.9 points of market share there. In Japan, Lenovo increased PC shipments by 14 percent year-over-year, in a market that overall grew at 2.9 percent for the quarter.