The third quarter of 2016 (end of September) seems to have hit gold for Lenovo as the company announced its sales figures. As per the announcement, Lenovo sold a total of 14 million phones in the quarter, which constitutes 25 percent of a jump in comparison to the last quarter.
In total, Lenovo recorded a total revenue of $11.2 billion for the third quarter. Net income calculated at $157 million for the quarter, which is a significant increase opposed to its $714 million loss for the same quarter, last year. Also, Lenovo's mobile division ascertained $2 billion in revenue and posted a loss for $156 million, which still averages around 4.4 percent of improvement from the last quarter.
The company also noted the growth in the total shipments for Asia (especially in India) where it recorded an increase of 15 percent from the year before. Lenovo-owned Motorola division reported 40% boost in sales in the quarter, thanks to the success of Moto Z lineup along with MotoMods.
While giving its financial presentation, Lenovo revealed that it sold 1.06 million units of Moto X smartphones during the first three months of its launch. Lenovo also predicts that it will sell around 3 million units of Moto X smartphone in 12 months. Furthermore, the company also announced its partnership with the Indiegogo crowdfunding service to aid developers to present ideas for more MotoMods for Moto Z smartphones.
