There is good news for Lenovo all around. Right after dethroning Micromax from 2nd place in the Indian mobile industry, Lenovo got a boost from its smartphone division during Q3 2016.
Substantial increase in Mobile shipments
The company announced that it sold a total of 14 million smartphone in the third quarter of 2016, which was up 25% compared to Q2. Lenovo’s overall revenues for the quarter stood at $11.2 billion, 8% down from the same period in 2015. On a more positive side, Net income cam in at $157 million in Q3, a radical improvement compared to a loss of $174 million in Q3 2015.
Massive boost from sales of Moto Z
This is where the news gets a little interesting. Lenovo’s mobile division, which has been struggling a bit as of late, saw a 40% increase in sales this quarter thanks to the Moto Z, Moto Z Play and the innovative Moto Mods. You can read about our initial impressions of the Moto Z here and the Moto Modshere . However, despite the increase in smartphone sales, the mobile division still posted a loss of $156 million (against a revenue of $2billion). Although, this is still a 4.4% improvement over last year.
Major sales of Motorola smartphones in India
Majority of the increase in smartphone shipments came from Asia, with India in particular seeing a massive 15% increase in shipments compared to last year. Lenovo’s Motorola division, thanks to the Moto Z, Moto Z Play and Moto Mods saw a 40% boost in sales.