The news about Hewlett-Packard Co.'s (NYSE: HPQ) earnings may have been better than expected, but they cannot compare nearly to PC maker rival Lenovo. For some reason it has managed to dodge much of the downturn in global personal computer sales, perhaps because its costs of labor are low. The China-based company reported, according to Bloomberg:
[T]he world's second-biggest maker of personal computers, reported a 90 percent gain in fourth-quarter profit after increasing its market share and boosting smartphone sales.
Net income climbed to $126.9 million in the three months ended March, from $66.8 million a year earlier, Lenovo said in a statement today. That beat the $108.1 million average of eight analysts' estimates compiled by Bloomberg.
Lenovo is developing mobile devices such as smartphones and tablets as it seeks to lure customers from Apple Inc. and Samsung Electronics Co. and weather a global slump in demand for PCs. The company maintained PC sales and expanded market share in the quarter, even as global shipments dropped 13.9 percent, researcher International Data Corp. reported in April.
Airline Travel Ratings
Consumer Reports released its new ratings of the best and worst airlines. Virgin America was at the top of the list. Spirit Airlines Inc. (NASDAQ: SAVE) was at the bottom. Southwest Airlines Co. (NYSE: LUV) was in second place among the winners. On the wrong end of the list, United Continental Holdings Inc. (NYSE: UAL) and American Airlines were in second-worst and third-worst place. The research organization reported on its airline travel ratings:
More than 16,000 readers told us about their experiences on 31,732 domestic round-trip flights in the previous 12 months. Seven of the 11 airlines they rated received low scores for seating comfort. Only JetBlue, Hawaiian, Southwest, and Virgin America did better. They also topped our list overall. Other quality-of-flight measures also got low marks from readers who flew on lower-rated airlines, including cabin-crew service, cleanliness, and in-flight entertainment. The proliferation of added fees further contributes to passengers' low opinion of today's flying experience.
Samsung Galaxy S4 Sales
The Samsung Galaxy S4, often considered the only real rival to the Apple Inc. (NASDAQ: AAPL) iPhone 5, may be posting sales that are even more impressive that the iPhone's. The South Korean company said of the first month of Galaxy S4 sales:
Samsung Electronics Co., Ltd. today announced that global channel sales of its GALAXY S4, a life companion for a richer, fuller, simpler life, has surpassed 10 million units sold in less than one month after its commercial debut. Launched globally on April 27, the phone is estimated to be selling at a rate of four units per second. The GALAXY S4 sets a new record for Samsung, generating sales quicker than any of its predecessors. Sales of the GALAXY S III reached the 10-million mark 50 days after its launch in 2012, while the GALAXY S II took five months and the GALAXY S seven months to reach the same milestone.
The announcement, and the wait for the iPhone 5S, could further dent Apple's reputation and its share price.
Filed under: 24/7 Wall St. Wire, Market Open Tagged: AAPL, featured, HPQ, LUV, SAVE, UAL