Research giants Gartner and IDC recently
announced that Beijing-based Lenovo
Group has surpassed Hewlett-Packard in global PC sales after standing at
the No. 2 spot for years. But last week, the plot thickened: Lenovo now sells
more mobile devices—tablets and smartphones—than PCs, according to the
company’s FY 2013/2014 Q1 earnings report.
Lenovo reported $8.8 billion in revenue and $174 million in profit, a
year-over-year growth rate of 10% and 23%, respectively, beating its own
revenue record and exceeding analysts’ predictions.
As
it grows year over year at a rapid clip, Lenovo is differentiating itself from
its largest PC competitor, Hewlett-Packard, by marketing a connected suite of
devices. Since Lenovo’s smartphones have yet to hit most major Western markets,
most smartphones sales have come from the company’s native China, where it
makes about 42% of its total sales. The report made clear that Lenovo now
thinks of itself as a “PC Plus” brand, the plus meaning smart-connected
devices. “While driving profitable growth
in our core PC business, we are rapidly transforming our company into a PC Plus
company,” Yang Yuanqing, chairman and CEO of Lenovo, said in the report. “The
PC Plus market requires fast, efficient innovation as it moves quickly from
premium products to mainstream ones and from mature market domination to
emerging market hyper growth.”
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