Reuters: Technology News: Lenovo logs record quarterly profit in Q3, tops market estimates

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Lenovo logs record quarterly profit in Q3, tops market estimates Jan 30th 2013, 08:30 Tweet Share this Email Print Related News Insight: Apple's grip on carriers, suppliers loosens Mon, Jan 28 2013 Samsung puts lid on capex for the first time since financial crisis Fri, Jan 25 2013 Apple's China dilemma: market share or cachet? Thu, Jan 24 2013 China's Lenovo sees RIM as M&A option, CFO says Thu, Jan 24 2013 UPDATE 4-AMD sees weak revenues, warns of choppy PC market Tue, Jan 22 2013 Analysis & Opinion Where emerging markets are headed next What Nokia needs to do in 2013 Lenovo's laptop PCs are displayed at an electronic shop in Tokyo September 5, 2012. Credit: Reuters/Kim Kyung-Hoon HONG KONG | Wed Jan 30, 2013 3:30am EST HONG KONG (Reuters) - Lenovo Group Ltd, on track to become the world's top maker of personal computers, reported a record quarterly profit, up 33.5 percent from a year earlier, as it gained more share in the PC market and made inroads in the smartphone business. The ThinkPad maker, also China's No. 2 smartphone vendor, said on Wednesday net profit in its October-December third quarter had risen to $204.9 million, above the average estimate of $178.4 million in a Thomson Reuters I/B/E/S poll of 11 analysts. Lenovo has rapidly gained market share in the PC sector on the back of acquisitions over the past few years. The company trails Hewlett Packard Co by a slim margin in PC shipments, according to technology research group IDC. As PC demand growth slows, Lenovo has been diversifying into the mobile device sector to tap robust demand for smartphones and tablets, particularly at home in China, the world's biggest market for mobile phones and personal computers. (Reporting by Lee Chyen Yee; Editing by Chris Gallagher) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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