Back in November, Lenovo CEO said it would take the company two to three more quarters before it showed a profit in China. The executive blamed this on the cost of marketing and building out a sales channel. But on Wednesday at the World Economic Forum in Davos, the company's CFO, Wong Wai Ming, said that China is already profitable for Lenovo when it comes to smartphones. The country is the world's largest smartphone market and over the last year, Lenovo has seen its market share in China soar from 1.7% in 2011 to 15% in 2012. The stunning rise has allowed Lenovo to capture the second largest slice of the Chinese smartphone market. Research firm Gartner predicts that Lenovo will surpass Samsung in 2013 to be the number one smartphone manufacturer in the country.
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