Lenovo (0992.HK) announced that fiscal third-quarter profit rose 25% year-on-year to US$99.7 million, exceeding analyst expectation, Bloomberg reported. The company, China’s largest computer manufacturer, saw revenue hit US$5.81 billion, up 22% year-on-year. Revenue from China rose 18% to US$2.68 billion, comprising 46% of total revenue. Lenovo’s mature markets division, which includes the US and Western Europe, saw revenue rise 22% to US$2 billion. The increase is largely the result of customers replacing aging computers and a drop in the cost of components, such as memory chips and liquid crystal displays. Lenovo accounted for 10.4% of global PC shipments in the last quarter, up from 8.8% a year earlier, according to research company IDC. It trails Hewlett-Packard (HPQ.NYSE), Dell (DELL.NASDAQ, 4331.HK) and Acer (ACID.LSE, 2353.TPE). Both Hewlett-Packard and Acer saw their shares of global shipments fall.
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