Lenovo Group said the company is currently evolving as a wireless computing supplier due to the booming sales of smartphones and tablets. The leading personal computer vendor revealed that handsets generated most of its income as buyers continue to move away from their PCs.
"We actually sold more smartphones and tablets than PCs in this quarter for the first time ever," Lenovo CFO Wong Wai Ming stated in a conference call with the media.
Lenovo's sales of wireless devices surged by 105% in the second quarter, pushing a 23% soar in profit to USD174 million. The company's total revenue increase by 10% to USD8.8 billion. The PC sales' share in Lenovo's total revenue fell to 28%. Laptop shipments accounted for 52% of the revenue after increasing by 4.7%. The mobile devices made up 14% of Lenovo's total earnings.
"We are impressed by Lenovo's strong execution," analysts from Barclays said in a report. "It is the only Asia PC company that is able to deliver market expectation results, facing strong headwinds from concerns about global PC and smartphone demand, as well as a slowdown of China's economy."
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