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Chinese manufacturer Lenovo has just recorded a profit rise of 29% in the fiscal year ended March 2014. And undoubtedly, it’s the mobile division that has rescued the company from diminishing computer sales. Lenovo is expected to have shipped north of 50 million smartphones in the fiscal year, which is a a 72% year-on-year growth for the company.
Lenovo’s home turf in China was one of the key markets for the company, where it has a massive brand presence. Neighboring Asian countries have also contributed to the overall profits of the manufacturer. And although the company didn’t see extensive growth in China, it’s the foreign countries that have been very lucrative for Lenovo. With plenty more midrange and high end Android devices set to hit the markets, we can expect the sales to increase even further in time for the next fiscal earnings report.
We have known Lenovo as a brand that sparingly makes global news with its midrange smartphones and tablets, but it’s undoubtedly one of the largest sellers of smartphones in the world today with China being its prime focus. The company has expressed interest in becoming the third largest seller of smartphones after Samsung and Apple and it looks well on its way to achieve that goal.
[Via Re/Code]
