Net profits for Lenovo Group, the world's third-largest personal computer maker, fell 89% year-on-year in the three months to June after the company spent US$19 million on job cuts and relocations following its acquisition of IBM's PC unit. The fall in profits to US$5 million came despite a 38% rise in sales to US$3.5 billion, the South China Morning Post reported. Analysts expect Lenovo to feel increased pressure over the coming months following price cuts by rival PC maker Dell. However, the company believes its restructuring will save as much as US$250 million a year and allow it to be more competitive. It is cutting about 1,000 jobs and moving offices at a total cost of US$100 million. Lenovo's global market share rose to 7.7% at the end of June, up from 7.5% a year ago, according to market research company IDC. Sales in the Greater China region, which account for 38.5% of total sales, rose 31.6% to US$1.34 billion.