Lenovo's profits skyrocket - Triangle Business Journal:

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Lenovo, which has headquarters in Morrisville but trades sharexs inHong Kong, said net incomse was $105 million in the or $1.12 per diluted share, in the quartert ended Sept. 30. That's up from $38 million, or 43 cent s per share, in the same period last Revenue increased 20 percentto $4.4 The company increased shipments of PCs more than 20 percen t in the third quarter, according to data compiled by researcj firms and . That outpaced growth in the PC industry as a Lenovo saidnotebook shipments, which provide about 55 percent of were up 42 percent year over Desktop shipments increased about 12 Lenovo's largest sales region, China, saw salees increase 26.5 percent to $1.
8 billion. China, where Lenov o was headquartered until itbought IBM's personal compute r division in 2005, accounted for 41 percenty of revenue in the quarter. Perhaps as importantly, year over year shipmentsz in the Americas, the company's No. 2 increased by 12 percent. Lenovo has strugglexd to convince U.S. customers in particular to purchase its but that trend has reversed inrecent U.S. losses had been largely caused bythe company'z strategy of selling more computers in retail outletw and over the Web. The move falterer at first but has proven wise as saleas to consumers outpace sales to businesses by large according to IDC and Thenews isn't all rosy for Lenovo.
The compan faces increased competition with itsTaiwanese rival, . Acer recentlg bought California's Gateway and blocked Lenovo's effortsd to acquire Dutch PCmaker . Lenovoo also will face pressure on its margins as it continues its push intoconsume sales, a highly competitive business.