Lenovo Group, the world’s biggest personal computer maker, said its net profit for the second quarter rose 23 percent to $214 million, beating market estimates on strong growth in sales of smartphones and other mobile devices. Also Read - Lenovo sold 1 million A6000, A6000 plus, A7000 units in India in 6 months
The Chinese technology giant said its business revenue rose 18 percent from a year earlier to $10.4 billion in the April-June period. During the latest quarter, Lenovo’s global sales of smartphones jumped 39 percent year-on-year to 15.8 million units, exceeding that of personal computers for the first time, Xinhua news agency reported. In China alone, Lenovo sold 13 million units in the second quarter, making it the country’s largest smartphone maker. Also Read - Lenovo will be India's 3rd largest smartphone player by year-end
The Hong Kong-listed company’s global market share of personal computers also jumped to a record high of nearly 20 per cent during the period, the company said. Share prices for Lenovo fell 1.4 percent to 11.26 HK dollars (about $1.45 USD). Also Read - Good device at low price a major challenge: Lenovo
Earlier this year, Lenovo in a bid to diversify its business beyond PCs, announced a $2.91 billion deal to purchase Motorola from Google and another $2.3 billion deal to buy IBM’s low-end server business. With these acquisitions and the recovery of the personal computer market, “we see even more opportunity to keep growing rapidly,” said chairman Yang Yuanqing in a statement.