Lenovo, the world's largest PC maker, is intent on becoming a global brand as it shifts its focus away from China, the firm's chief financial officer told CNBC.
China is still the PC and smartphone maker's largest market, contributing 38 percent to the group's total revenue, while Europe, the Middle East and Africa contributed 25 percent and the Americas 21 percent, the firm reported on Wednesday. But these latter regions show more promising growth potential, Lenovo CFO Wong Wai-Ming told CNBC on Wednesday.
"I think today Lenovo is a global company. Obviously, our largest market is in China, but as a global company you have to work in different countries, and if you really look at the growth of our business we have substantial growth from outside China," Wong said.
Testament to this, Lenovo's China revenue only grew 1.3 percent in 2013, while revenue from the EMEA and the Americas climbed roughly 30 percent each.
While China used to account for 60-70 percent of Lenovo's business, Wong said it now represents a considerably smaller proportion.
"It has been very, very profitable.... but in China today the market is actually declining 10 percent year on year," he said, adding that did expect business there to pick up with improvements in China's economy.
Hong-Kong listed Lenovo Group overtook Hewlett Packard last year as the world's largest PC vendor by unit sales, but has been shifting its focus away from the declining PC market towards tablets and smartphones recently.
The firm aims to sell 100 million smartphones by 2015, with the goal of becoming the global smartphone market's third largest player.
Lenovo has the second largest share in China's smartphone market, after Samsung, but faces some obstacles there, where many analysts believe the market is already maturing.
"In China we are number two today but we still have a long way to go before we can be dominant there... our China smartphone [business] is not losing money but not making a significant amount of money," said Wong.