Lenovo has its best financial year to date - Stuff

Lenovo has its best financial year to date

Lenovo has its best financial year to date

Tech manufacturer Lenovo has announced its financial results for Q4 of 2012 as well as the 2012 financial year and the figures are not bad at all.

For the fourth quarter of the year Lenovo achieved $127 million in profits on revenue of $7.8 billion. The revenue total is a record for the company over a quarter but the full year results have also been record breaking for the company. The full year profit of $635 million on revenue of $34 billion is the company’s highest total to date.

Lenovo’s laptop arm saw a 2% decline over the financial year, a far cry from the losses that other PC manufacturers have seen recently. The company saw 74% growth in the Chinese market which helped to mitigate losses in that area. The company also retained the number two spot for smartphones in China, growing shipments 206% compared to last year’s totals.

Source: Engadget

Previously the editor of PCFormat and T3, Nic is a wordsmith by day and a web developer by night. Or is that the other way round? He has been the managing editor of Stuff's print version for several years and is now the digital publisher, leading the web, mobile and app evolution of your favourite mag.

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