Driven by sales of its notebook and desktop PCs
Lenovo Group’s revenue for the fiscal fourth quarter grew 54% to $7.5bn year-over-year from $4.9bn it recorded during corresponding quarter in 2011 boosted by strong sales in India, Russia and China.
The company posted a 59% rise in net profit to $67m in its fourth quarter as it held its position as the world’s second largest PC maker with a 12.9% market share.
The sales for the entire year were a record $29.6bn, marking a rise of about 37% percent over last year while income rose 63% to $582m.
Lenovo achieved pre-tax income of $102m during the fourth quarter, a 69% increase over the same period last year while gross profit grew to $806m, an increase of 34%.
Lenovo chairman and CEO Yang Yuanqing said the company’s global PC shipments grew by 35% year-over-year, outperforming the industry by ten times, global market share increased by three percentage points, and net profit jumped by 73% year-over year.
"During the fourth fiscal quarter, Lenovo was the fastest growing among the top PC vendors in Global Emerging Markets, and Commercial Markets, as well as Consumer Markets and Mature Markets, where for the first-time ever, we reached double-digit market share in both," he added.
"With the emergence of multiple devices such as smartphones, tablets and smart TV, our industry is entering the PC + era."
Lenovo posted a net profit of $473m for the fiscal year ended March.
In the Emerging Markets, representing 16% of Lenovo’s overall sales, sales were up by 43% during the fourth quarter to a total of $1.2bn.
China is Lenovo’s key region, contributing 42% of total revenue, while markets such as Japan and Europe offer another 42%.
Sales of Lenovo’s laptop PC business worldwide in the fourth quarter increased 41% to $4.2bn, marking 56% of the company’s overall sales.
In the fourth quarter, Lenovo introduced the ThinkPad X1 hybrid laptop, and the Thinkpad T430u Ultrabook including several new consumer IdeaPad laptops.
In North America, PC shipments were up 26%, in an overall market that was flat year-over-year, the company noted.
Lenovo’s desktop PC shipments rose 43% in the fourth fiscal quarter increased 45% to $2.4bn or 32% of the company’s overall sales worldwide.