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Lenovo profit up 23 percent on mobile growth
World | business | 11:26, 14 August 2014 | 295

AKIPRESS.COM - lenovo Lenovo Group Ltd. (992) reported a 23 percent surge in first-quarter profit as the world’s largest maker of personal computers gained a greater portion of the global market for desktop models and mobile devices, the Bloomberg said.

Net income climbed to $213.5 million in the three months ended June from $173.9 million a year earlier, the company said today in beating analysts’ estimates. Chief Executive Officer Yang Yuanqing also said in an interview the company is negotiating with “multiple” U.S. government agencies to win approval for more than $5 billion of planned acquisitions.

With the PC market in contraction, Yang has kept the company growing by winning share as he expands the smartphone and tablet-computer businesses. After rapidly expanding mobile-phone sales in its home base of China, the company is extending sales into the Middle East, Africa and Latin America while pursuing deals to bolster expansion.

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