Largest PC vendor Lenovo of China, reported strong growth in net profit in the third quarter, as it increased the market share in China and calibrate lively sales of laptops and Smartphones.
The Beijing-based company said its rose 22% to $ 5.8 billion in the three months ended 31 December, while net income rose 25 percent to $ 100 million in revenue.
Mobile computing has led the company, with revenue accounting laptop PC for $ 3.4 billion in total revenues in the quarter, up 15% year on year, Lenovo said in a statement.
Lenovo also saw gains in its smartphone business, which has become a new growth area for many PC vendors. Lenovo smartphone sales doubled in the third quarter compared to the previous three months, the company said in a statement.
The company credited stronger sales smartphone to its new Mobile Internet and Digital Home business group, which was formed during the quarter to focus on mobile devices, including tablets and smartphones, as well as devices for Cloud computing and smart TV.
"Looking ahead, we will be investing in building our global brand, driving product innovation and creating a business model-to-end even more effective ... we are confident that we can continue to outpace the market and provide strong results across our business," said Yang Yuanqing, CEO of Lenovo, in education.
Lenovo has also signed an important agreement with NEC in Japan last month. NEC is the largest PC vendor in Japan and the two companies will work under a joint venture to further increase the market share in the nation.
Lenovo, the deal, "says Lenovo as a leader in two out of three of the biggest PC markets worldwide," said in the statement.
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