Beijing-based manufacturer Lenovo has posted strong financials for its first quarter with global smartphone shipments up 39%. Global revenue rose 18% year-on-year to $10.4bn (£6.23bn).
Earnings rose 23% to $214m (£128m) in the April-June quarter compared to the same period last year. The company reported strong sales of smartphones and other mobile devices, reaching $1.6bn (£1bn) in the quarter.
Global shipments of smartphones rose by 39% on a year-on-year basis while the manufacturer said it now holds the 'No 3' position globally for tablet suppliers.
One-third of the revenue came from operations in China while the US and South America regions reported sales of $2.2bn (£1.32bn). Revenues from Europe, the Middle East and Africa jumped 27% to $2.8bn (£1.68bn).
Yang Yuanqing, chairman of Lenovo, predicted that mobile sales would make up the bulk of the company's future revenue as its focus moved from PC to mobile offerings.
The $2.9bn deal to acquire Motorola Mobility from Google was on schedule for closing, he revealed.
'The acquisition of such an iconic brand, innovative product portfolio and incredibly talented global team will immediately make Lenovo a strong global competitor in smartphones,' he said following the announcement of the deal.
'We will immediately have the opportunity to become a strong global player in the fast-growing mobile space.'
Lenovo expects to close the deal by the end of this year.