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Lenovo Reports Q4 Motorola Sales Rise

Hong Kong – Motorola smartphone shipments grew 23.6 percent in the fourth quarter ending March 31 to 7.8 million units compared to the year-ago period, parent Lenovo said in reporting its fourth-quarter financial results.

Motorola, which re-entered the China market in January, “remains on track to be profitable within four to six quarters of close,” the company added.

Lenovo, which acquired Motorola’s handset business last October, also said Motorola’s results contributed $1.8 billion to Lenovo’s mobile business group revenues, which include Lenovo-brand smartphones, Android tablets and smart TVs.

Tablet sales within the mobile business group “outpaced the market” and grew 26 percent to 12 million units to take 5.1 percent global market share, the company reported.

In the PC group, which includes PCs and Windows tablets, Lenovo’s quarterly sales grew 11 percent to $7.2 billion. The group saw share gain across all geographic regions, the company said.

For the quarter, consolidated revenue grew 21 percent to $11.3 billion and would have been up 28 percent if not for currency fluctuations, the company said. Net income for the quarter, however, fell 42 percent to $97 million.

For the full year, revenue rose 20 percent to $46.3 billion, and net income rose 2 percent to $837 million.