Lenovo has announced its Q3 financial results, revealing record smartphone sales for its new Motorola arm.
Motorola never really sold the number of smartphones that its innovation deserved under Google, but under Chinese manufacturer Lenovo it appears to be in rude health.
Lenovo has just revealed that its Motorola arm sold more than 10 million smartphone handsets during the third quarter, which is a new record for the company.
Of course, those benefits go both ways, with Lenovo reporting a 31 percent increase in revenue year-on-year to $14.1 billion (£9.3 billion). This also meant that the company beat expectations for the quarter, and also managed to increase gross profit by 54 percent.
The reason Lenovo purchased Motorola, of course, was to establish a foothold in the western smartphone market. It seems to have done the trick.
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Lenovo’s revenue for the EMEA region rose by 40 percent to $4 billion (£2.6 billion). Meanwhile, things are going even better in the US, with revenue up a staggering 88 percent to $4.3 billion. This American figure alone represents 30 percent of the company’s revenue overall, and Lenovo attributes a large part of that to Motorola.
Motorola had a another strong year for smartphones, with the Moto X (2014) and the Moto G 2 providing worthwhile updates to 2013’s efforts. What’s more, it appears as if this 2014 batch has been getting more than just critical praise.