Lenovo has recently found themselves in the spotlight since they announced they are buying Motorola from Google. Today, Lenovo announced their Q3 earnings and other numbers, and they look really, really good. Lenovo shipped a record 32.6 million units, which makes that 5 devices per second. They also continued to expand their lead as the number one PC maker with 18.5% market share. They made over $10.8 billion USD in revenue, which marks the first time they ever surpassed the $10 billion milestone. They also recorded $321 million US in pre-tax income, and $265 million USD in earnings. As of December 31st, 2013, Net cash reserves were $3.4 billion USD.
Lenovo stated that their PC Plus products, which include smartphones, tablets, and Smart TVs, made up about 16% of their total revenues. That’s up from 11% a year earlier. And two years earlier it was only 7%. Lenovo is also touting that for the third straight quarter, Lenovo is the world’s largest PC vendor, with their highest-ever quarterly market share of 18.5%, that’s up 2.4% year-over-year. Also for the third straight quarter, shipments of smartphones and tablets have surpassed PCs. Smartphones and tablets accounted for 17.3 million, and PCs were 15.3 million
“We had outstanding performance last quarter, delivering both record revenue and record profit. Leveraging strong execution of our strategy, innovative products and growth in our PC Plus business, we continue delivering on our commitment to improve our profitability and we are confident we will maintain this momentum in our existing businesses,” stated Yang Yuanqing, who is the Chairman and CEO of Lenovo. “Further, the Motorola and IBM server acquisitions that we just announced are a perfect fit with our PC Plus strategy. While our top priority now is full participation in the regulatory approvals process, I am confident that from day 1 after closing, these businesses will quickly begin contributing to our performance and develop into pillars for long-term, sustainable growth.”
It’s great to see Lenovo doing so well, especially in the Post-PC era. It makes many of us Motorola-faithfuls a bit more comfortable with Lenovo taking over Motorola. Even though we really don’t know what Lenovo has planned for Motorola.