Lenovo recently reported strong first quarter results (August 17, 2011). For seven straight quarters, it has been the fastest growing major PC maker. In Q1, Lenovo hit a record high for both market share (12.2%) and unit sales (over 10 million) worldwide. The company climbed to number 3 in worldwide PC share and continues its fast ascent.
The following statement is attributable to Lenovo CEO Yuanqing Yang:
“Lenovo has tremendous momentum in the market. We continue to not only outgrow the market, but also significantly outpace our competitors. With our own rapid growth, combined with the successful execution of our joint venture in Japan with NEC and our acquisition of Medion in Germany, we fully expect to be number 2 in worldwide PCs this year. PCs continue to be a very strong core business for us. Even as we invest in new areas like tablets and mobile internet, we see great opportunity in PCs around the world. We are committed to the PC space for the long term and expect it to continue to fuel profitable, balanced global growth for Lenovo.”
By advancing the right strategy of balanced, profitable growth and strong execution, Lenovo has outperformed the industry in all geographies, customer segments and product segments on its journey toward becoming one of the leading personal technology companies in the world
· Roughly doubled net profit YTY in Q1 ($108m)
· Fastest growing of top 5: 7 straight quarters (8X market in Q1)
· Outgrowing market: 9 straight quarters; Grew 8X market (23.1% to 2.7%)
· Record units in Q1 of over 10 million
· #3 WW share in PCs; Record share of 12.2%; Record share in both Mature and Emerging
· Number 1 in global relationship NB (Large enterprise/public sector)
· Number 2 in global commercial NB
· Number 1 in China and growing: Extended lead vs. competitors as China overtook U.S. for 1st time as world’s largest PC market.
· Number 1 in global Emerging markets: Grew 3x market rate (46.5% v. 14.7% to record 16.6%).
· Number 2 in WW all-in-one PCs