Lenovo Profit Rises 34% on Avoiding PC Slump, Smartphones
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Lenovo Group Ltd., the world’s second-biggest maker of personal computers, reported a 34 percent jump in third-quarter profit after increasing its market share and boosting smartphone sales.
Net income climbed to $204.9 million in the three months ended Dec. 31, from $153.5 million a year earlier, the company said in a statement yesterday. Excluding a $20 million one-time gain, the figure was in line with analysts’ estimates. Sales climbed 12 percent to $9.36 billion.