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Lenovo Reports Q1 Results, Gaining Market Share
      #38269 - 08/19/10 09:42 AM

Lenovo Group today reported results for its first fiscal quarter ended June 30, 2010, and for the third quarter in a row, Lenovo was the fastest growing of the top five PC manufacturers. During the first quarter, Lenovo achieved for the first-time ever, double-digit market share worldwide, and recorded its lowest-ever quarterly expense-to-revenue ratio. It was also the fifth consecutive quarter that Lenovo outgrew the industry. Here is more info:

During the first fiscal quarter, Lenovo?s worldwide PC shipments increased 48.1 percent year-over-year, compared to the industry?s growth rate of approximately 20.9 percent worldwide for the same period. Lenovo Mobile's first 3G smartphone sold well in China.
Consolidated sales for the first fiscal quarter increased 49.6 percent year-over-year to US$5.1 billion. The Company?s gross profit for the quarter increased 38.6 percent year-over-year to US$523 million, with gross margin at 10.2 percent.

PRODUCT OVERVIEW

? Lenovo?s Laptop computers generated 60.5 percent of the Company?s total sales revenue worldwide in the first fiscal quarter. Consolidated sales for Lenovo?s laptop PC business worldwide in the first quarter increased 50 percent year-over-year, helping Lenovo move from sixth to fourth place among the world's leading laptop vendors. The Company?s laptop shipments worldwide in the quarter were up 58 percent, compared to an overall industry increase of 28 percent year over year. Lenovo announced its first 3D multi-media laptop, the IdeaPad Y560d featuring TriDef 3D technology including 3D screen, software and glasses. Also announced in the first quarter was the ThinkPad L series, low-cost rugged laptops for business, government and education customers.

? Consolidated sales of Lenovo Desktop computers worldwide increased 35 percent year-over-year in the first fiscal quarter, or 33.2 percent of Lenovo?s total sales revenue. Desktop shipments for the same period increased 36 percent, compared to an overall industry increase of 13 percent. Lenovo led the industry resurgence of all-in-one desktops with its first quarter introduction of the ThinkCentre M90z, a full-performance business desktop in a 23-inch display. During the first quarter, Lenovo also introduced the IdeaCentre A700 all-in-one, a stylish multi-media consumer desktop PC, and the IdeaCentre B305 all-in-one for more mainstream performance.

? Since the launch in China of Lenovo Mobile?s first 3G smartphone mid-way through the first fiscal quarter, the Lenovo smartphone has received rapid and widespread customer acceptance and initial sales have been encouraging. During the quarter, Lenovo Mobile remained the number one domestic handset brand in China.

GEOGRAPHIC OVERVIEW

? Lenovo China grew itsconsolidated sales in the first fiscal quarter by 50 percent year-over-year to US$2.5 billion, accounting for 48.7 percent of the Company?s worldwide sales. During the quarter, Lenovo further strengthened its number-one position in China to an industry-leading market share in China of 28.7 percent. Lenovo?s PC shipments in China increased 42.8 percent year-over-year in the quarter, exceeding the overall industry increase of PC shipments in China of 30.9 percent. During the quarter, the Company extended its channel structure in China to include more Tier5/6 cities, and more small/medium (SMB) business partners.

? In Emerging Markets Lenovo?s consolidated sales doubled from that of a year ago, totaling US$821 million for the first fiscal quarter, or 16 percent of the Company?s worldwide sales. Lenovo?s PC shipments across the region increased a whopping 69 percent year-over-year in the first quarter, compared to an overall industry increase of 26 percent. Of particular note, Lenovo grew its business significantly in Russia, India and Latin America among others, and as a result, saw its market share across the region increase by 1.4 points year-over-year.

? Consolidated sales in Mature Markets grew 38.5 percent year-over-year in the first fiscal quarter to US$1.8 billion, or 35.3 percent of the Company?s worldwide sales. Lenovo?s PC shipments in the region increased 48.7 percent during the first quarter, significantly outperforming the overall market which grew 14.5 percent year-over-year. Lenovo grew its market share by 1.3 points year-over- year in the region and continued its focus on reducing expenses. Across the region, the Company was well positioned to serve business customers looking to re-start the PC refresh cycle.



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