1 February 2007 — Hong Kong (CHN): Lenovo earned $57.7 million during Q4, a 23 percent rise from $46.8 million last year, its strongest growth rate since its purchase of IBM’s PC business in 2005.
The company attributes the growth, which marginally beat forecasts of $56.4 million, to securing Asian market share and successfully managing costs.
Lenovo’s dominant share in Asia, excluding Japan, grew to 21.6 during Q4 compared to 20.7 in Q3. But the PC maker’s shipments declined in Japan and the US.
Yang Yuanqing, Lenovo’s chairman, said last year that it would take at least three years for the company to return to strong profitability.