Lenovo expanded its position as the No. 1 PC supplier in the world
The good times keep rolling for Lenovo, the company that continues to defy the odds with record growth. This time, Lenovo posted revenue of $38.7 billion for its full fiscal year, up 14 percent compared to a year ago and the highest it's ever been. In fact, Lenovo broke records all around, including pre-tax income of $1.01 billion, up 27 percent year-over-year and record full year earnings of $817 million, up 29 percent.
"Lenovo had a truly outstanding year," the OEM noted in what might be the world's largest understatement.
The Chinese OEM increased its lead in PCs sales by adding 2.1 points of market share to hit a record 17.7 percent for the full year. That represents a 5 percent annual jump at a time when the industry average is an 8 percent decline. In terms of PCs sold, Lenovo moved 55 million computers, plus 9.2 million tablets and 50 million smartphones.
"The record sales and profits that we delivered last year prove that Lenovo can grow and deliver its commitments, no matter the market conditions," said Yuanqing Yang, Lenovo Chairman and CEO. "Not only did we strengthen our leading position in PCs, but we gained three points in tablets by quadrupling sales volume and became the fastest growing major smartphone company in the world. This demonstrates our capability to manage both businesses that are already mature, as well as those that are shifting to maturity."
Lenovo has figured out how to outpace the market, and in a big way. The company increased its laptop PC shipments by 12.9 percent, which flies in the face of an industry average decline of 5.8 percent. Meanwhile, Lenovo's desktop PC shipments jumped 6.8 percent year-over-year against an industry drop of 3.1 percent worldwide.