Lenovo posts 34% jump in third-quarter profit
Lenovo, the world’s second-biggest maker of personal computers, has reported a 34 per cent jump in third-quarter profit after increasing its market share and boosting its sales of smartphones.
Net income climbed to $204.9 million in the three months ended December 31st, from $153.5 million a year earlier, the company said in a statement. Excluding a $19.9 million one- time gain, the figure was in line with analysts’ estimates.
Sales climbed 12 per cent to $9.36 billion. Lenovo’s PC shipments rose 8 per cent, the only increase among the world’s four biggest suppliers, as it boosted North American consumer sales amid slowing global demand.
The company has also developed mobile devices including smartphones and tablets that have helped it lure customers from Apple and Samsung. – (Bloomberg)