Lenovo mobile unit makes gains
Lenovo’s mobile business reported continued sales momentum across all markets in its fiscal Q4 (ending 31 March).
Mobile Business Group (MBG) revenue increased 86 per cent year-on-year to $1.5 billion, with Lenovo branding pre-tax income of $21 million as a record high since it acquired Motorola in 2014.
Device shipments were up in all regions, with Latin America highlighted after growth of 67 per cent delivered a near 21 per cent market share.
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Lenovo stated the mobile unit would continue to focus on making 5G devices more accessible and broaden its range. Moving forward, it expects next-generation models to account for 30 per cent of shipments.
Group net profit grew sixfold to $260 million, on revenue of $15.6 billion, 48 per cent higher.
Chairman and CEO Yang Yuanqing said the company delivered its fastest growth in almost a decade, with fiscal year revenue of $60 billion a milestone.