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Lenovo profit rises nearly 34% in fiscal Q3

By Ding Yining (Shanghai Daily)

11:13, January 31, 2013

LENOVO, the world's second-largest personal computer maker, yesterday said profit in its fiscal third quarter jumped nearly 34 percent after its market share increased.

Profit in the three months ended on December 31 increased 33.5 percent from a year earlier to US$204.9 million, the company said in a statement.

Sales grew 12 percent in the period compared with a year ago to US$9.36 billion.

Lenovo's worldwide shipments reached 14.1 million units in the quarter, and the company has 15.9 percent of the global PC market, trailing only Hewlett-Packard Co.

Gartner Inc said in a report earlier that HP's dominance in professional PCs helped it take the lead from Lenovo.

Sales of consumer computers at Lenovo added 22 percent, and globally its share grew to 13.1 percent from 12.9 percent a year earlier.

Chinese businesses made up 43 percent of the company's total income, up 17 percent from a year earlier.

Lenovo's smartphone sales in China jumped 77 percent to US$998 million after the company launched a series of new models to woo consumers at a time when PC demand dwindled. Lenovo also offered other mobile devices such as tablet computers and launched large scale marketing activities.

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