Lenovo making a profit from smartphones in China - CFO

News Wireless China 24 JAN 2013
Lenovo making a profit from smartphones in China - CFO
Chinese PC maker Lenovo is making a profit from smartphone sales in China and seeing solid growth in other emerging markets, CFO Wong Wai Ming told the Wall Street Journal in Davos. This contrasts with a statement by CEO Yang Yuanqing in November 2012 that it would take two or three quarters before Lenovo turned a profit from its smartphone operations in China, partly due to expenditure on marketing and building its sales channel. Gartner predicts that Lenovo will be China's top smartphone vendor this year, pushing Samsung into second place. According to Gartner, Lenovo took second place with a 15 percent market share in the third quarter, up on 1.7 percent a year earlier. Wong said the company's sales were growing fast in India, Indonesia, Vietnam and Russia.

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Mobile

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Lenovo

Countries:

China

Tags:

Wireless, Finance, Handsets, Market research

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