Lenovo, the Chinese brand which needs no introduction, shipped a record 14 million smartphones during the second fiscal quarter which ended on September 30. The brand registered a 25% increase in sales in comparison to the first quarter which ended in June this year. That being said, the mobile devices sale increased by 20% from fiscal first quarter while the sales are down by 12% on a yearly basis.
Lenovo Mobile Division suffered a $156 million pre-tax loss during the second quarter but still it is still an improvement considering the previous three months. In terms of margins, there was a decline of 7.7% which still is better than the previous quarter by 4.4%.
Motorola smartphones showed a rapid increase of 40% owing to the shipping of Motorola G4 and other Moto Z smartphones. Lenovo has shipped about a million smartphones belonging to Moto Z series and the brand has a target of shipping 3 million smartphones.
Yang Yuanqing, Chairman, and CEO, Lenovo said, “Market conditions remained challenging but we delivered solid results…our Mobile business had good quarter-to-quarter volume growth and margin improvement…We have also added several of the industry’s top minds into Lenovo, and are continuing to strengthen our leadership team. We remain confident in our vision, our strategy and our team’s ability to achieve new heights”.
Lenovo has also partnered with a crowdfunding website to help the developers raise money for their Moto Mods creations for Moto Z range. The developers with popular ideas will get a chance to pitch those ideas at Motorola HQ.Always be the first to know. Follow us: