Lenovo Group Q3 profit increases

Lenovo Group Limited has reported that profit attributable to the equity holders for the third quarter ended December 31, 2012 was $205 million, or $1.96 per diluted share, compared to $153 million, or $1.46 per diluted share, for the same quarter ended December 31, 2011.

Sales for the third quarter ended December 31, 2012 were $9.36 billion, compared to $8.37 billion for the same quarter ended December 31, 2011.

Operating profit for the third quarter ended December 31, 2012 was $243 million, compared to $193 million for the same quarter ended December 31, 2011.

Gross profit for the third quarter ended December 31, 2012 was $1.10 billion, compared to $954 million for the same quarter ended December 31, 2011.

"With the strong execution of our 'Protect and Attack' strategy, Lenovo has not only achieved record revenue, profit and global PC market share last quarter, but also our smartphone and tablet businesses have delivered hyper growth. Even more, our worldwide tablet and China smartphone businesses have become profitable," said Yang Yuanqing, chairman and CEO, Lenovo Group.

"As we continue into the PC Plus era, Lenovo has already laid a solid foundation. Our new organization will provide the structure to elevate our diversified business and drive it to the next level. We are confident that we can win through differentiation and will be the innovation leader in the PC Plus era."