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PC maker Lenovo says profit up 13 percent

Thu, 11/08/2012 - 12:33am
The Associated Press

Personal computer maker Lenovo Group says quarterly profit rose 13 percent as its mobile and cloud-based businesses expanded.

Lenovo said Thursday it earned $162 million, or 1.6 cents per share, in the three months ended Sept. 30. Global revenues rose 11 percent to $8.7 billion.

Lenovo is vying with Hewlett-Packard Co. to become the world's biggest personal computer maker but faces a market in which the fastest demand growth is for mobile devices.

The company said sales at its 2-year-old mobile Internet group rose 155 percent to $718 million.

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