Lenovo Yang Yuanqing: stick to PC will OUT

On the afternoon of the 17th, Lenovo released its third-quarter results for the 2010/11 fiscal year, showing that Lenovo’s global personal computer sales increased by 20.6% year-on-year, and the overall market sales increased by 3.4% over the same period.

Lenovo’s consolidated sales increased 22% year-on-year to US$5.8 billion, and gross profit grew 22% year-on-year to US$648 million. The gross profit margin of the quarter group was 11.2%, and the gross profit rate in the previous quarter was 10.3%.

Yang Yuanqing, CEO of Lenovo Group, said at the third quarter earnings briefing held in Hong Kong, “Lenovo has made significant progress and good performance in the PC market, but today’s market has undergone major changes, and the convergence of the PC and the Internet is increasingly deepening. If only Sticking to the PC market will sooner or later be eliminated by the market.”

Yang Yuanqing said, “Mobile Internet is Lenovo’s new growth point. For many years, Lenovo has established a mobile Internet strategy. As an important embodiment of Lenovo’s mobile Internet strategy, Lenovo’s Music Phone and hybrid architecture notebook computers were launched in January last year. The industry has paid a lot of attention."

Yang Yuanqing revealed that Lenovo's Music Phone has achieved tremendous growth this quarter, which has doubled compared to the previous quarter and reached 230,000 units.