Chinese electronics giant Lenovo is preparing an "aggressive" smartphone push into emerging countries as it looks to extend its global influence after dominating its domestic market.
The electronic consumer goods company reported bumper earnings on Thursday, with net profits rising 23 percent in the fiscal first quarter year-on-year to $214 million. Lenovo's mobile devices business, saw a 32 percent rise in revenues and, more importantly, nearly 20 percent of sales came from outside of China, up from 5 percent a year ago, as the firm looks beyond its home market.
Lenovo is looking to move away from the traditional PC-based model, which is in fast decline, to mobile devices. To push the strategy, the Chinese hardware company struck a deal to buy IBM's server business and Motorola from Google earlier this year, in agreements worth over $5 billion.
'Race to the bottom'
While Lenovo is the number one smartphone vendor in China, according to IDC, it is fourth globally, but the company said it is betting on "aggressive" expansion in emerging markets to help it grow market share across the world.