Lenovo’s Chairman, Liu Chuanzhi, today stated that he expects the company to surpass Dell in sales by year end and become number 2 in WW PC sales (PC World). Based on the company’s internal metrics, combined with remarkable momentum in the market, Lenovo fully believes that it will continue to outgrow the market, outpace the competition and quickly become the second-biggest PC company by marketshare in the world.
Lenovo recently reported strong first quarter results (August 17, 2011). For seven straight quarters, it has been the fastest growing major PC maker. In Q1, Lenovo hit a record high for both market share (12.2%) and unit sales (over 10 million) worldwide. The company climbed to number 3 in worldwide PC share and continues its fast ascent.
The following statement is attributable to Lenovo CEO Yuanqing Yang:
“Lenovo has tremendous momentum in the market. We continue to not only outgrow the market, but also significantly outpace our competitors. With our own rapid growth, combined with the successful execution of our joint venture in Japan with NEC and our acquisition of Medion in Germany, we fully expect to be number 2 in worldwide PCs this year. PCs continue to be a very strong core business for us. Even as we invest in new areas like tablets and mobile internet, we see great opportunity in PCs around the world. We are committed to the PC space for the long term and expect it to continue to fuel profitable, balanced global growth for Lenovo.”
By advancing the right strategy of balanced, profitable growth and strong execution, Lenovo has outperformed the industry in all geographies, customer segments and product segments on its journey toward becoming one of the leading personal technology companies in the world
· Roughly doubled net profit YTY in Q1 ($108m)
· Fastest growing of top 5: 7 straight quarters (8X market in Q1)
· Outgrowing market: 9 straight quarters; Grew 8X market (23.1% to 2.7%)
· Record units in Q1 of over 10 million
· #3 WW share in PCs; Record share of 12.2%; Record share in both Mature and Emerging
· Number 1 in global relationship NB (Large enterprise/public sector)
· Number 2 in global commercial NB
· Number 1 in China and growing: Extended lead vs. competitors as China overtook U.S. for 1st time as world’s largest PC market.
· Number 1 in global Emerging markets: Grew 3x market rate (46.5% v. 14.7% to record 16.6%).
· Number 2 in WW all-in-one PCs
Lenovo (HKSE: 992) (ADR: LNVGY) is a US$21 billion personal technology company serving customers in more than 160 countries, and the world’s third-largest PC vendor. Dedicated to building exceptionally engineered PCs and mobile internet devices, Lenovo’s business is built on product innovation, a highly-efficient global supply chain and strong strategic execution. Formed by Lenovo Group’s acquisition of the former IBM Personal Computing Division, the company develops, manufactures and markets reliable, high-quality, secure and easy-to-use technology products and services. Its product lines include legendary Think-branded commercial PCs and Idea-branded consumer PCs, as well as servers, workstations, and a family of mobile internet devices, including tablets and smart phones. Lenovo, a global Fortune 500 company, has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. For more information see www.lenovo.com.