Printed from http://www.electronista.com

Lenovo profit triples as work PCs roar back

updated 08:00 am EDT, Thu May 26, 2011

Lenovo outperforms market expectations

Lenovo has reported a strong fourth-quarter with its profit tripling on the back of higher than expected demand from commercial customers. Lenovo reported a net profit of $42.13 million for the period January to March, a boost of $12.8 million from the corresponding year ago quarter. This more than compensated for a slow down in consumer PC demand, the result of strong demand for tablet and smartphone devices.

"Momentum in commercial PC demand has gradually picked up, benefitting from the corporate refresh cycle, while consumer PC demand weakened due to a worsening macroeconomic environment and increasing competition from tablet products," the company said in a statement to the Hong Kong stock exchange.

The company has plans to counter the drop off in consumer demand by launching its own entries into the tablet and smartphone space. These include planned US launches of the IdeaPad Tablet K1 tablet and the LePhone.

Lenovo's shares were up .7 percent prior to the outperforming announcement. [via Reuters]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Sound Blaster Roar Bluetooth speaker

There could very well be a new king of the hill for Bluetooth speakers, with Sound Blaster's recent entry into the marketplace. Bringi ...

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Sponsor

toggle

Most Commented

 
toggle

Popular News