Lenovo Reports Record Market Share in Third Quarter Report

Posted 02/05/2010 at 6:35am | by Paul Lilly

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What's all this talk of a tech recession? It's apparently of no consequence to Lenovo, who reported a 42 percent year-over-year increase in worldwide PC shipments during the company's third fiscal quarter ended December 31, 2009.

Even more remarkable, this marks the third straight quarter Lenovo has been able to boast its highest market share ever, this time at 9 percent. By comparison, industry PC shipments increased 17 percent during the same time period.

"For the first time since the acquisition of IBM PCD, Lenovo was the fastest growing PC company in the world. We have achieved our highest ever global market share for the third straight quarter and notably increased profitability. These achievements demonstrated the effectiveness of the strategies we mapped out at the beginning of the year," said Yang Yuanqing, Lenovo CEO. "In the future, while we continue to expand our PC business, we also want to attack the mobile internet category to drive growth and capitalize our innovation efforts."

All across the board Lenovo has reason to celebrate. Operating profit, for example, hit $99 million for the quarter, which is twice as much as the company claimed in the previous quarter.