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Customers talk to a salesperson about a new laptop at a Lenovo shop in Shanghai yesterday. Lenovo Group Ltd, the world's No.4 PC brand, beat expectations by posting a 25 percent rise in net profit in its fiscal third quarter, its best result in more than two years. [Shanghai Daily]
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Lenovo Group Ltd posted a better-than-expected 25 percent annual rise in net profit in its fiscal third quarter ended December 31 due to its growing Chinese business and corporate client sector in the United States and Europe, China's No. 1 personal computer maker said Thursday.
For future growth Lenovo is banking on the booming mobile Internet sector and its new US$175 million PC joint venture with Japan-based NEC Corp, which is expected to boost its revenue in the world's third-biggest PC market.
In the quarter, Lenovo's net profit was US$99.7 million, or 0.98 US cents a share, up from a profit of US$86.1 million forecast by analysts. Revenue rose 22 percent to US$5.81 billion, Lenovo said.
Lenovo's PC sales jumped 20 percent year on year, compared with 3.4 percent average for the industry. The results meant Lenovo, the world's No. 4 PC maker, grew faster than any of the top five PC makers for five straight quarters, according to the Beijing-based company.
"Our core PC business continues to deliver balanced growth,'' Lenovo chief executive Yang Yuanqing said in a statement.
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