Lenovo sales surge; Company hits stride in third quarter

Lenovo delivered a solid fiscal third quarter profit on strong PC sales in China and the U.S.

The PC maker reported an operating profit of $99 million, a sum that doubled the second quarter tally. Fiscal third quarter revenue was up 33 percent from a year ago to $4.8 billion.

Lenovo also said that it has 9 percent worldwide market share, its highest total in its history. In a statement, the company said that it has cut expenses and is operating efficiently using Lean Six Sigma in its supply chain to squeeze costs.

For the company (all resources), the results are proof that Lenovo has emerged as a fast-growing PC maker since the acquisition of IBM's PC business.

By the numbers (statement):

• Lenovo's third quarter China revenue was $2.3 billion, up 45 percent from a year ago. China represents 47 percent of Lenovo's global sales.
• In emerging markets such as Russia, Asia Pacific and Middle East, Lenovo posted sales of $857 million, up 53 percent from a year ago.
• The company reported third quarter revenue of $1.7 billion in mature markets (U.S., Europe, Australia), up 13 percent from a year ago. Mature markets represent 35 percent of Lenovo's sales.
• Notebook revenue was $3 billion, up 46 percent from a year ago. The company credited the Windows 7 launch and products like the IdeaPad consumer line for the sales growth.