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Lenovo Q2 net profit jumps 23%, gains ground in smart devices
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LENOVO Group today posted a 23 percent growth in net profit in the second quarter with increased sales of computer, tablet and mobile phones.
The world's No. 1 computer maker gained market shares in global smart device sector during the period, trailing only behind Samsung and Apple Inc, according to research firm IDC.
Net profit grew 23 percent year-over-year to US$214 million and revenue jumped 18 percent to US$10.4 billion in the quarter.
“This has been a quarter of milestones for Lenovo - record PC share, a No.3 ranking in worldwide tablets for the first time, and an even stronger No.4 global smartphone position," said Yuanqing Yang, Chairman and CEO of Lenovo.
Lenovo has been the world’s largest PC maker for five consecutive quarters with its highest-ever quarterly market share of 19.4 percent by the end of June, up 2.7 percentage points year-over-year.
In tablets, Lenovo became the world's third largest vendor with 2.3 million devices shipped, a growth of 67 percent. Meanwhile, Lenovo sold more smartphones than PCs for the first time ever with record volume of 15.8 million units in the quarter, up 39 percent.
Lenovo's acquisitions of Motorola Mobility and IBM x86 proceeds toward completion, which are expected to bring more opportunity to it, Yang added.
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