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Lenovo celebrates 5th quarter of growth

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Lenovo's financial results for its first quarter ended 30 June 2010 show it has grown faster than any of the other top manufacturers.

The company's PC sales grew 48.1 per cent compared to the industry average of 20.9 per cent. Lenovo now claims 10.2 per cent of the world PC market.

Lenovo made sales of $5.1bn and a pre-tax profit of $75m in the quarter.

Operating profit was $82m and the firm has cash reserves of $2.2bn.

The quarter also saw Lenovo's first smartphone launch in China, where it remains the top handset brand.

Laptops accounted for 60.5 per cent of total revenues and shipments were up 58 per cent.

Desktop sales grew 35 per cent and provided 32.2 per cent of revenues.

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