Recession? What recession?
Lenovo has reported that its profits rose 133 percent in the last quarter, thanks to strong sales in China and Europe. The sales in Europe and China mean that a slow down in the U.S. went largely un-noticed.
In a statement, Lenovo said that it will focus on boosting sales in developing countries and expanding its retail business. Sales in China, which account for about one-third of Lenovo revenues, rose 18 percent to €820 million. Sales in Europe, Africa and the Middle East were up 30 percent to €558 million.
Sales in the United States and the rest of the Americas rose just 9 percent, €670 million, which given the state of the U.S. economy, is not that bad.
