Zhi Tong Cai Jing·2024-02-22 06:53Core Insights - Lenovo Group reported third-quarter earnings with total revenue of 113.6 billion RMB, a year-on-year increase of 3%, and a net profit of nearly 2.6 billion RMB, showing improved profitability for two consecutive quarters [1] Business Performance - The mobile phone segment showed remarkable performance, driven by a robust execution of a three-year growth plan, with smartphone sales in the Asia-Pacific, EMEA, and North America regions exceeding market growth rates by 250, 55, and 40 percentage points respectively [1] - The high-end product segment, particularly the Motorola Razr, contributed to a record high of 25% in the overall product mix [1] Market Trends - According to Canalys, the smartphone shipment volume in Europe (excluding Russia) for Q4 2023 was 37.8 million units, reflecting a year-on-year decline of 3%, while Motorola achieved an impressive growth rate of 73%, positioning it as the fourth largest vendor in the European market [1] - Canalys analyst Brandon Gurney noted significant changes in the vendor landscape in 2023, with a few manufacturers' strong growth offsetting the overall market decline, highlighting Motorola as the fastest-growing vendor focused on strategically securing mobile network operator slots for sustained growth throughout the year [1]