Lenovo has posted its financial results for the quarter ending September 30, 2016 (second fiscal quarter). The company announced a net profit of $157 million, a turnaround from the $842 million loss resulting from restructuring efforts in Q2 2015. Overall revenue was $11.2 billion, an 8% YoY decrease but an increase of 12% from the previous quarter.
Lenovo shipped 14 million phones in the quarter, resulting in a 25% increase from Q1 2015. Sales from the mobile division amounted to $2 billion, a YoY decline of 12% but an increase of 20% from the last quarter. The unit posted a loss of $156 million, an improvement from the previous quarter. Lenovo is doing particularly well in India, where it saw a 15% YoY uptick in sales. Introduction of the Lenovo Z2 Plus and the Moto Z Play should give the brand an added sales boost this quarter.
The company didn’t break out numbers from Motorola, but said that shipments were up 40% following the launch of the Moto G4 and the Moto Z. The Moto Z series crossed 1 million sales since its debut, and Lenovo is looking to sell 3 million units in the first 12 months. The tentpole feature of the Moto Z series is the Moto Mods range of magnetic add-ons, and Lenovo is looking for ways to entice developers to create more attachments. The latest move involves collaborating with crowdfunding site Indiegogo as a way to allow devs to raise money to bring their Moto Mods to life.