14 DAY TRIAL // It appears that Lenovo has concluded its latest fiscal year on a highly optimistic note, having experienced a rapid business growth, especially during the fourth quarter, ended March 31, 2011.
With all the things happening on the IT market, some companies have been seeing their businesses going through financial decline, while others have been doing better than ever.
Lenovo is one of the latter, having experienced a balanced growth throughout the year and scoring total sales of $21.6 billion.
The above figure is, in part, owed to the 13% on-year rise during the fourth quarter (to $4.88 million), enabling the overall yearly escalation of 16%.
“We are very satisfied with the progress of our strategy execution. We not only continue to gain market share in all geographies, customer segments and product lines, but also reported a significant improvement in profit. Our fourth quarter gross profit margin improved almost 2 points year-over-year." said Lenovo CEO Yang Yuanqing.
“We enter our new fiscal year with the utmost confidence. By continuing to execute our ‘protect and attack’ strategy, Lenovo will be able to further accelerate our pace of growth in the PC industry while achieving good progress in new businesses as well, especially in the mobile internet area.”
The market share of Lenovo at the end of its fiscal year was 10.2%, since its PC shipments grew by 28% compared to the year before.
All in all, Lenovo has been doing quite well for itself, being the fastest growing of all PC makers for the sixth consecutive quarter.
“Lenovo had a record-setting year and the Board of Directors is satisfied with both the quarterly and annual results. Lenovo’s performance is evidence that the Company is achieving its short-term and quarterly goals, while strengthening its long-term competitiveness. These results demonstrate that we have the right strategy in place and are executing on that strategy,” said Lenovo Chairman Liu Chuanzhi.
“However, as we celebrate our success, we are very focused on the challenges we face as we continue to build our business worldwide. Our innovative products, our focused strategy and our strong culture, will remain the keys to our success in the coming year and beyond.”