Lenovo’s net profit grew 25% year-over-year in the first quarter as the Chinese company continued to make gains in the PC and smartphone markets. During the period ended March 31, Lenovo’s net profit reached US$158 million, up from $127 million a year earlier. The company’s revenue also increased, by 19% to $9.4 billion. Lenovo has risen to become the world’s largest PC company, helped by sales in its home market of China. But the company is also focusing on tablets and smartphones to grow revenue.
Lenovo Group Ltd, the world’s largest maker of personal computers, reported a 25 percent jump in fourth-quarter profit as its desktop models and mobile devices gained global market share. Net income climbed to $158.3 million in the three months ended March from $126.9 million a year earlier, the company reported today. That compared with the $163.6 million average of nine analysts’ estimates compiled by Bloomberg. Chief Executive Officer Yang Yuanqing has maintained Lenovo’s leadership in the PC market at a time when industrywide shipments have contracted, and he also is expanding sales of smartphones overseas. Lenovo, which in January agreed to buy Motorola Mobility for $2.9 billion, plans to triple the number of countries where it sells phones by adding 20 new markets in the Middle East, Africa and Latin America.