Lenovo profit up 30 percent on smartphone growthBy AP News Feb 13, 2014 10:16AM UTC
BEIJING (AP) — Computer maker Lenovo Group says its latest quarterly profit rose 30 percent from a year earlier on strong growth in sales of smartphones and other mobile devices.
The world’s biggest personal computer maker said Thursday profit for the three months ending Dec. 31 was a record $265 million. Revenue rose 15 percent to $10.8 billion.
Sales of smartphones and other mobile devices rose 73 percent to $1.7 billion. Sales of laptop computers that supply half the company’s revenue rose 11 percent to $5.4 billion while sales of desktop PCs rose 12 percent to $3.2 billion.
Lenovo bought part of IBM Corp.’s server business for $2.3 billion in January and a week later bought the Motorola smartphone business from Google Inc. for $2.9 billion.