Lenovo Group Becomes Number Three Manufacturer of PCs

Lenovo (News - Alert) Group, the world’s number three manufacturer of personal computers, recently said its quarterly profit nearly doubled due to some recent emerging market sales. Just last year, Lenovo entered the wireless Internet (WiFi (News - Alert)) and has launched smartphones and tablet computers. Today, Lenovo is a global corporation with operations on six continents and operates in over 60 countries. The company takes pride in attracting the best talent from diverse backgrounds and remote locations around the world. 

Lenovo also manufactures the renowned ThinkPad® notebook, as well as products carrying the ThinkCentre®, ThinkStation®, ThinkServer®, IdeaCentre® and IdeaPad® labels.

In a recent conference call, CEO Yang Yuanqing told reporters that the company plans to achieve a 20 percent share of the market within a year. “We will continue to invest in capturing growth in emerging markets while focusing on improving profitability,” said Yang.

Lenovo’s PC shipments in China rose 23.4 percent in the final quarter. China provides nearly half of the company’s sales. PC shipments in Africa, Latin America, and other markets also rose 45.7 percent in the latest quarter (one year earlier).

Although some of the company’s shipments fell behind in China (due to supply constraints), Lenovo still plans to move into mobile Internet, competing with one of the biggest players in the computer-manufacturing world—Apple (News - Alert) Inc.

All in all, the company has experienced phenomenal growth. For example, shipments in North America rose 30.8 percent, while those in Japan were up 14 percent. Profit for the three months ending June 30 was $108 million, or 1.11 U.S. cents per share, up 98 percent from a year earlier.

In 2005, Lenovo acquired IBM Corp.'s PC unit. It also overtook Taiwan’s Acer (News - Alert) Group. In addition, Lenovo launched a joint venture with Japan’s NEC Corporation, expanding its presence in the Japanese market.