Lenovo's Q1 shows 'record high' market share, profits up 30 percent to $141 million

After delivering an overachieving laptop, Lenovo has delivered financial results that also exceeded expectations, producing $8 billion in revenue and $141 million net profit. Those figures are up 35 and 30 percent respectively over last year, which the company has chalked up to a higher than ever market share of 15 percent. 

That growth came in part from a 59 percent sales bump in emerging markets like India and Brazil, on top of a 9 percent spurt in its home market -- lifting the company 24 percent in world-wide PC shipments for the quarter. Lenovo has also become the second largest player in China's smartphone market, after Samsung, now up to a 13 percent market share.

CEO Yang Yuanqing also proclaimed that, unlike other Redmond partners, he wasn't stressed about Microsoft's Surface tablet -- and that his company had "much better hardware" than the software giant.
Sourcehttp://www.engadget.com/2012/08/16/lenovo-q1-2012-financials/