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Lenovo Profit Rises 34% on Avoiding PC Slump, Smartphones

January 30, 2013

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 $19.9 million one- time gain, the figure was in line with analysts' estimates. Sales climbed 12 percent to $9.36 billion.

Lenovo's PC shipments rose 8 percent in the period, the only increase among the world's four biggest suppliers

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