Lenovo profits up 23 percent on mobile growthBy AP News Aug 14, 2014 10:34AM UTC
BEIJING (AP) — Lenovo Group, the world’s biggest personal computer maker, says its latest quarterly profit rose 23 percent on strong growth in sales of smartphones and other mobile devices.
Lenovo said Thursday it earned $214 million, or $2.06 per share, in the three months ended June 30. Global revenue rose 18 percent to $10.4 billion.
Sales of mobile devices rose 32 percent over a year earlier to $1.6 billion. The company is investing heavily in smartphones, tablet computers and other wireless devices, and has said it expects mobile sales to be the bulk of its future revenue.
Sales of Lenovo’s traditional desktop PCs rose 20 percent to $3 billion, accounting for 29 percent of total revenue.