Lenovo has recorded its fourth quarter result along with the full year revenue ending March 2014. The company’s fourth-quarter net profit declined 36 percent from a year ago.
Lenovo’s revenue for Q4 soared 21% year over year to $11.3 billion. The company record revenue of $46.3 billion, up 20 percent year over year. The company saw a net income of $100 million for the three months ended March 31, a 36.7 percent decline from $158 million for the year-ago period. Lenovo quarterly sales were $2.8 billion. Lenovo remained the third largest smartphone maker in the world with 18.7 million in Q4 and a record 76 million in FY 2014/15 shipments and increasing balance globally.
“In view of the opportunities and challenges of the new Internet+ era, we are ready to transform ourselves from making mostly hardware to a combination of hardware and software services. This will spur a new wave of growth for Lenovo in the coming years.”
Lenovo Chairman and CEO Yang Yuanqing said in a statement.
Lenovo continued to grow in the tablet market with a total of 12 million units shipped, an increase of 26 percent year-over-year, and 5.1 percent market share. Motorola contributed more than 7.8 million units in the quarter to Lenovo’s total, up 23.6 percent year-over-year, while adding US$1.8 billion to Lenovo’s MBG revenues. In the PC Group or PCG, which includes PCs and Windows tablets, Lenovo’s quarterly sales were US$7.2 billion up 11 percent year-over-year. The company had reported a $14.1 billion revenue for Q3, 2014.