Lenovo is still immune to the shrinking PC market

Is the PC market shrinking? Not if you’re Lenovo.

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Over the past few quarters, Lenovo’s PC sales have remained steady, even as the larger PC market itself has declined. Its latest quarter is no exception: The company’s net income increased to $126.9 million from $66.8 million last year.

Those numbers come as Lenovo’s share of the PC market increased to 15.3 percent, according to an April report from IDC. In fact, Lenovo was the only top PC company to post a gain in PC shipments rather than a decline, says IDC.

Lenovo’s PC sales contrast strongly with those of industry leader HP, which last quarter saw its PC and notebook shipments decrease 18 percent and 24 percent, respectively. At 15.7 percent, HP’s share of the PC market is just barely higher than that of Lenovo — though not for much longer this rate.

Lenovo’s numbers were also boosted by sales of its smartphones, which are sold in countries like India, Russia, and Indonesia. Lenovo is the second-largest smartphone vendor in China behind Samsung, and it expects its global smartphone shipments to increase to 50 million this year. Lenovo may be mostly a PC company, but it’s pretty clearly showing it wants to be so much more.