The Chinese group Lenovo reported on Wednesday a record quarterly profit thanks to an increased share in the personal computer market and expansion into the smartphone segment.
In the third fiscal quarter from October to December, the ThinkPad manufacturer, also the second largest smartphone manufacturer in China, achieved a record net profit of $204.9 million, which is 33.5 percent higher than in the same period last year.
Revenues also reached a record amount of $9.4 billion, which is 12 percent higher than in the corresponding period last year.
The group delivered a record 14.1 million personal computers in the third fiscal quarter, increasing its share of the global market to 15.9 percent.
In recent years, Lenovo has rapidly increased its share in the personal computer market through acquisitions. The company closely follows the world leader Hewlett Packard in the number of computers shipped, according to data from the technology sector research group IDC.
Given the slowdown in demand growth for personal computers, Lenovo has decided to expand into the mobile phone sector to capitalize on the strong demand for smartphones and tablet computers, especially in the domestic Chinese market, the largest in the world for mobile phones and personal computers.
