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

Adesso Compagno X Bluetooth keyboard

The shift from typing on physical keyboards to digital versions on smartphones and tablets hasn't been an easy for many consumers. Fro ...

Polk Audio 4 Shot headset

Sound quality and design are two of the biggest areas of focus for manufacturers when coming up with a new gaming headset. Depending o ...

Patriot Supersonic Phoenix USB 3.0 drive

USB thumb drives aren't the end all solutions for data transfer and traveling needs. Sometimes people want something with a little mor ...

Sponsor

toggle

Most Commented

 
toggle

Popular News