Lenovo's profit soars to record $205 million
The Chinese PC giant posts record profit and sales for its third quarter, as China continues to be the main contributor to overall sales and as its smartphone business totes up its first-ever profit.
Chinese PC giant Lenovo said its third fiscal quarter, ended December 31, was its best ever, with record numbers for both sales and profit at US$9.4 billion and US$205 million, respectively.
The company said in a statement today that the US$9.4 billion in revenue was a 12 percent increase from the year before, while third quarter profit leaped 34 percent year over year to reach US$205 million.
Gross profit for the third quarter increased 15 percent year over year to US$1.1 billion, while operating profit climbed 26 percent to US$243 million.
Lenovo added that its smartphone business in China was profitable for the first time.
This story originally appeared at ZDNet under the headline "Lenovo Q3 profit hits record $205M, China smartphone biz profitable.