Sao Paulo, Brazil, 27 Nov – The Brazilian subsidiary of China’s Lenovo posted 42 percent growth in its third financial quarter ended in December 30, higher than the 30 percent growth for the period in the Brazilian personal computer market, its chairman, Marcelo Medeiros said in Sao Paulo.
Medeiros, who recently took on the leadership of Lenovo for nine South American countries, noted that the growth seen had occurred only in the corporate segment as Lenovo does not currently operate in the retail market.
In relation to the company’s entry into the retail market, the executive said that the move was planned for March or April of 2009.
In other emerging markets Lenovo also saw a good performance in the period. Particularly good performance was seen in India (a rise of 5 percent on a 1 percent fall in the market), Turkey (rise of 80 percent against 18 percent market growth), and Russia (189 percent on 23 percent market growth in the country).
Despite this good performance in developing countries, most of Lenovo’s turnover still comes from China, which in the period accounted for 44 percent of turnover and 55 percent of units sold. (macauhub)