Premium PC business boosts Lenovo’s quarterly profit
Chinese PC maker Lenovo Group reported a 21% rise in second-quarter net profit, beating expectations, thanks to more premium computers it sold during the period. Net profit for the quarter ended September came in at $168m, versus $139m a year earlier and an average estimate of $118m from nine analysts, according to Refinitiv data. Revenue rose 14% to $13.38bn, the highest quarterly revenue in almost four years, helped by an improvement in product mix towards more commercial PCs — a more lucrative category than consumer PCs. “The group remains confident in its core PC business, and aims to grow at a premium to the market in revenue without compromising profitability,” chairman and CEO Yang Yuanqing said in a filing to the Hong Kong Stock Exchange. “Lenovo will leverage industry consolidation opportunities, and drive growth in high-growth segments such as gaming PCs, Thin & Light, Visuals, and workstations,” Yang said. Lenovo, which lost the world’s largest PC maker crown to HP in 201...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.