Lenovo's Profits Jump by 89% in the Second Quarter

A while after its FY results were published, Lenovo is speaking of its profits and sales during the second quarter of the calendar year 2011.

Lonovo just showed just how much money it made during the second quarter of 2011.

Apparently, the sum was big, of about $145 million (105.17 million Euro), which is 89% higher than what the second quarter of 2010 brought in.

The figure was enabled by record sales of $7.8 billion (5.65 billion Euro), which was 35.8% more on-year.

Laptops, as is unsurprising to learn, raked in the most cash (57.5% of the total sales).

“Lenovo's performance this quarter was outstanding. Despite significant investments for future growth, pre-tax income increased and the Company over-achieved its targets,” said Liu Chuanzhi, Lenovo chairman.

“The management team developed strategies in the right way, built a solid corporate culture and the morale of the whole staff is very high. The Board is very satisfied.”

It is no wonder that the company is gunning for the top spot on the PC market, not with how it jumped from fourth to second place in just six months.

“In just two quarters, Lenovo has gone from the number four to the second largest PC vendor in the world. We achieved balanced growth across all markets, product categories and geographic regions. In China, we continued to extend our lead, while in Emerging Markets we have been growing more than three times the market growth rate,” said Yang Yuanqing, Lenovo CEO.

“Including the successful integration of both the NEC and Medion businesses in Mature Markets, we recorded for the first time a turnover exceeding that of the China market. Not only has profitability substantially increased, but also with record market share. We are very optimistic about the future of the PC industry. Our aspiration is not only to be the leader of traditional PCs, but to also accomplish much more in the extended PC categories, such as the smartphone and tablet.”