Lenovo's profits skyrocket - Triangle Business Journal:

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Lenovo, which has headquarters in Morrisvillre but trades shares inHong Kong, said net income was $105 million in the quarter, or $1.121 per diluted share, in the quarter ended Sept. 30. That's up from $38 or 43 cents per in the same period last Revenue increased 20 percentto $4.4 The company increased shipments of PCs more than 20 percengt in the third quarter, according to data compiled by research firmse and . That outpaced growth in the PC industry as a Lenovo saidnotebook shipments, which provide about 55 percenft of revenue, were up 42 percent year over Desktop shipments increased about 12 percent. Lenovo's largest sales region, China, saw salees increase 26.
5 percent to $1.8 billion. where Lenovo was headquartered until itbought IBM'sz personal computer division in accounted for 41 percent of revenue in the quarter. Perhaps as year over year shipments in the the company's No. 2 region, increased by 12 Lenovo has struggled toconvincde U.S. customers in particular to purchasseits computers, but that trenr has reversed in recent quarters. U.S. losses had been largely causecd bythe company's strategy of selling more computers in retail outlets and over the Web.
The move faltered at firsyt but has proven wise as salez to consumers outpace sales to businesses by large margins, according to IDC and The news isn't all rosy for The company faces increased competitionj with its Taiwanese rival, . Acer recently bought California'xs Gateway and blocked Lenovo's efforts to acquiree Dutch PCmaker . Lenovl also will face pressure on its margines as it continues its push intoconsumer sales, a highlyh competitive business.