Lenovo has announced that its revenue in their third financial quarter increased by 31 percent to $14.1 billion, and their smartphone sales have more than doubled over the previous year.
The company also announced a gross profit of $2.1 billion which is up 54 percent on the same quarter in the previous year.
“This quarter, we are at the starting line of a new race, but the results show that we have the right strategy, we made the right acquisitions and we executed well globally, so I am confident we are ready to win,” said Yuanqing Yang, chairman and CEO of Lenovo. “Our core PC business maintained its leading position and further improved profitability. The two newly acquired businesses are achieving great momentum in their first quarter of integration. They are definitely becoming our growth engines. Motorola is already a global strength: for the first time it sold more than 10 million units in the quarter and it is now re-entering the China market.
Sales of Motorola smartphones reached 10 million for the quarter, which was up 118 percent for the same quarter in the previous year.
Motorola recently launched their handsets in China, and Lenovo is expecting China to increase sales of their Motorola devices.
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