PC maker Lenovo says profit up 13 percent
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.