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© stevanovicigor-dreamstime.com Electronics Production | May 23, 2014

Lenovo's record year

With record full-year revenue of USD 38.7 billion, an increase of 14% YoY, a record full-year pre-tax income of USD 1.01 billion, up 27% YoY and record full year earnings of USD 817 million, up 29%, Lenovo had a true record year.
Lenovo expanded its position in PCs, adding 2.1 points of market share to post a record 17.7% total share for the full-year, representing five percent YoY growth, compared to an overall industry decline of 8% during this same period.

When combining Tablets and PCs together to form the “PC + Tablet” category, Lenovo sold a record 64 million devices, up nearly 18 % YoY. Lenovo posted record total device volume of 114 million, up 37% YoY. This was the 4th quarter in a row that Lenovo sold more tablets and smartphones than PCs.

“The record sales and profits that we delivered last year prove that Lenovo can grow and deliver its commitments, no matter the market conditions,” said Yuanqing Yang, Lenovo Chairman and CEO. “Not only did we strengthen our leading position in PCs, but we gained three points in tablets by quadrupling sales volume and became the fastest growing major smartphone company in the world. This demonstrates our capability to manage both businesses that are already mature, as well as those that are shifting to maturity. Meanwhile, we are building new engines for growth in the enterprise and ecosystem. Through the combination of our existing and new businesses, Lenovo offers tremendous value to shareholders today, and our value will be even greater in the future.”

Gross profit for the full year was USD 5.06 billion, an increase of 14 % YoY. Gross margin was 13.1 %, while operating profit for the full fiscal year was USD 1.05 billion, a 32% increase YoY.

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