Lenovo bags record Q3 profit

30 Jan, 2013

Chinese PC maker's run of market success continues with record profit post.

Lenovo is on track to become the world's top maker of personal computers, after posting a record quarterly profit of $209.4 million.

Quarterly profits were up 33.5 per cent from a year earlier, as Lenovo gained more share in the PC market and made inroads in the smartphone business.

The ThinkPad maker, also China's number two smartphone vendor, said net profit in its October-December third quarter was above the average estimate of $178.4 million in a Thomson Reuters I/B/E/S poll of 11 analysts.

Lenovo has rapidly gained market share in the PC sector on the back of acquisitions over the past few years. The company trails HP by a slim margin in PC shipments, according to technology research group IDC.

However, earlier this year, rival analyst house Gartner claimed the firm had ousted HP from its long-held top spot in the PC market rankings.

As PC demand growth slows, Lenovo has been diversifying into the mobile device sector to tap robust demand for smartphones and tablets, particularly at home in China, the world's biggest market for mobile phones and personal computers.

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