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Lenovo narrows market gap with HP

By Tuo Yannan (China Daily)

09:27, February 10, 2012

A sales assistant holds up a Lenovo netbook at the Hong Kong Computer Festival. Lenovo Group Ltd has a global market share of 14 percent, making the company the second-largest global PC maker by market share, after reducing the gap with Hewlett-Packard Co to 2 percent from 9 percent in 2010. (China Daily Photo)

Chinese firm saw $8.4 billion in sales in fiscal third quarter

BEIJING - The gap in market share between the computer manufacturers Hewlett-Packard Corp and Lenovo Group Ltd has narrowed to 2 percent, according to the Chinese company on Thursday.

Lenovo reported record sales of $8.4 billion for the company's fiscal third quarter of 2011. It also won a global market share of 14 percent, making the company the second-largest PC maker by market share, after reducing the gap with HP to 2 percent from 9 percent in 2010, according to the IT research company International Data Corp.

The company attributed its performance to a dramatic surge in sales of Internet mobile devices and growth in mature markets. The company said sales revenue for its Internet mobile devices, including tablet PCs and smartphones, grew 159 percent year-on-year to $565 million between October and December.

Liu Jun, Lenovo's senior vice-president and president of the company's Mobile Internet and Digital Home Business Group, said the company's share of the smartphone market increased from about 2 percent at the beginning of 2011 to 10 percent in December, largely because of a promotion campaign by China Telecom Corp Ltd.

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