14 DAY TRIAL // It's one thing to have a good year, and another to have the best year ever. Lenovo can certainly attest to this, now that it has compiled its financial results for the fiscal year 2012-2013, which ended on March 31.
We already knew that Lenovo was the fastest-growing company on the IT industry. The Chinese hard-working spirit did wonders.
Nevertheless, even when expecting high numbers there are limits, and we dare say that Lenovo surpassed most of them during the March 31, 2012 – March 31, 2013 period.
For one thing, its revenues for the fourth quarter set a new record, of $7.8 billion / €5.59 billion.
Secondly, the revenues, for the whole year, also set a record, of $34 billion / €26 billion.
Of course, in comparison, profits were surprisingly low, of $127 / €98 million and $635 / €493 million, respectively.
Surprisingly, or perhaps not so surprisingly, PCs aren't the ones getting acclaim, or at least not the only ones.
Lenovo also experienced a significant increase in smartphone and tablet sales.
PC shipments rose 10.2% on year (overall industry declined 8.1%), and smartphone shipments went up by a factor of 3.7.
“Despite a challenging macro-economic environment and ongoing PC industry transformation, Lenovo delivered a strong performance in the 2012/13 fiscal year. Not only were we the fastest growing among all major PC players, with record market share, revenue and profitability, more importantly, our smartphone and tablet businesses saw dramatic growth,” said Yang Yuanqing, Lenovo chairman and CEO.
Only the laptop business actually suffered, as it fell 2%. Not nearly as much as the notebook divisions of rivals though, so it was still a win.
“Going forward, we will focus our investments on the fast-growing tablet, smartphone and enterprise hardware areas, while working to enhance the profitability of our core PC business. We are very confident in our ability to achieve success in these new areas, just as in the PC business,” added Yang Yuanqing.