Summary: The world's biggest PC maker has shown there may be life in the desktop market yet.
Lenovo's Thinkpad 10. Image: Lenovo
The world's largest PC maker Lenovo said it sold 55 million PCs, 50 million smartphones and 9.2 million tablets in the year to the end of March.
On Tuesday, the company reported full-year revenues of $38.7bn, up 14 percent, and net profit of $817m, up 29 percent.
Lenovo said it now accounts for 17.7 percent of the global PC market after adding 2.1 points of market share over the year, representing five percent year-on-year growth (compared to an overall industry decline of eight percent during the same period).
The company also said that for the last four quarters it has sold more tablets and smartphones than PCs. It is currently in the process of acquiring Motorola Mobility from Google in order to further its efforts in the smartphone market as the traditional PC market continues to decline.
By geography, China accounted for 33 percent of Lenovo's total worldwide sales, but in the fourth quarter, Lenovo's total EMEA revenue surpassed its China PC revenue - the first time that's happened. Lenovo's US PC business now accounts for 21 percent of its total worldwide sales; in the US, during the fourth quarter, Lenovo overtook Apple in terms of PC shipments to become the third largest PC maker in the country with a 10.8 percent market share.
Looking at the numbers by product line, Lenovo's worldwide laptop PC business increased in the fourth fiscal quarter by 16 percent to $4.8bn, accounting for 51 percent of the company's overall sales. Despite the general market declining, its desktop PC sales for the same period increased 14 percent to $2.7bn, or 29 percent of the company's overall sales worldwide. The company's sales of smartphones and digital home products jumped to $1.3bn, or 13 percent of the company's overall sales, and Lenovo said its worldwide smartphone shipments grew 59.4 percent in the fourth quarter.
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