Life is Good for Lenovo, Quarterly Profit up 45 Percent

Paul Lilly

Thanks in large part to strong sales in China and other emerging markets, Lenovo's latest quarterly profit shot up 45 percent, the company said today.

"We had another quarter of solid growth across all geographies," said Wong Wai Ming , CFO of Lenovo.

Lenovo appears to be on a roll having recorded profits of $77 million, or 81 cents per share, for the three months ended September 30, 2010. That's up from $53 million one year ago. On a global scale, Lenovo's sales are up 41 percent from one year ago to $5.8 billion.

As a result, Lenovo, currently the world's fourth-largest PC maker, increased its worldwide market share from 1.9 percent to 10.4 percent.

"We have good momentum to keep growing, especially outside China," said CEO Yang Yuanqing.

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