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Tech, Media & Telecom

Lenovo beats profit forecasts on PCs, phones

Lenovo (0992.HKG) on Thursday said second quarter net profit climbed 36% from a year earlier, beating analysts’ estimates, Bloomberg reported. The world’s largest PC maker posted the biggest gain in shipments among the world’s top-five PC vendors during the period as the industry experienced a 7.6% drop amid weak consumer sentiment for traditional computers, researcher IDC reported last month. Smartphone shipments by Lenovo rose 78% to 12.3 million units, the company said. The company’s share of the global PC market expanded to 17.3% in the period, from 15.7% a year earlier, according to IDC.

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