Lenovo Reports Profit Growth As Mobile Devices Boost Sales

lenovoThe world’s largest personal computer maker, Lenovo, has reported a quarterly profit of 23% increase in profits as sales of mobile devices had doubled.

Top PC maker of 2013

Net income was better than estimates at $174 million in the April to June period, higher from $141 million last year, Lenovo said in a statement.

Lenovo overtook Hewlett-Packard to become the top PC manufacturer this year. However, as global PC sales fall, the company has aggressively expanded into mobile products. Sales of smartphones, tablets, and other mobile products have doubled from the same quarter a year ago.

The company’s shares had increased by 2.4% in early trade in Hong Kong.

Outperformed global PC market

Lenovo said it had outperformed the worldwide PC market, which saw sales drop 11% during the quarter, from a year ago.

The company’s desktop PC deliveries were flat compared to last year. However, for the first time Lenovo’s combined sales of smartphone and tablets overtook its PC sales during this quarter.

According to the company, it is now the second-biggest smartphone seller in China with shipments increasing by 121% from the previous year. Lenovo has said it is also expanding into other emerging markets.