Reuters: Technology News: Lenovo logs weakest quarterly profit growth in more than two years

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Lenovo logs weakest quarterly profit growth in more than two years Nov 8th 2012, 04:59 Tweet Share this Email Print Related News ZTE sees over 40 percent rise in 2013 smartphone shipments Wed, Oct 31 2012 China's ZTE slumps to quarterly loss, margins bleed Thu, Oct 25 2012 Intel's outlook fails to inspire hopes for PC recovery Tue, Oct 16 2012 Lenovo knocks HP from top of global PC market: Gartner Thu, Oct 11 2012 UPDATE 2-Lenovo knocks HP from top of global PC market -Gartner Thu, Oct 11 2012 Lenovo's laptop PCs are displayed at an electronic shop in Tokyo September 5, 2012. Credit: Reuters/Kim Kyung-Hoon HONG KONG | Wed Nov 7, 2012 11:30pm EST HONG KONG (Reuters) - Lenovo Group Ltd, on track to become the world's top PC maker, posted a 12.6 percent rise in quarterly net profit, its weakest pace in about three years, as consumers increasingly switched to mobile gadgets from PCs for their computing needs. Lenovo, which technology research firm Gartner says has overtaken market leader Hewlett Packard Co in PC shipments, reported a net profit of $162 million in the July-September period. That compared with $143.9 million a year earlier and a $156.3 million consensus forecast on Thomson Reuters I/B/E/S, although the growth was still its weakest performance in three years. Rival research firm IDC still ranks Lenovo as the second largest PC maker. (Reporting by Lee Chyen Yee; Editing by Muralikumar Anantharaman) 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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