Lenovo targets emerging markets

Encouraged by profits rising 22% to US$354 million, Lenovo Group plans to expand in emerging markets, the South China Morning Post reported. It will target Brazil, Mexico, Russia, the Middle East and India, having shipped more computers than any other firm except Dell and Hewlett-Packard. But shares fell 7.2% in Hong Kong Monday. Weaker profitability of the former IBM assets, and the seasonality of the Mainland PC market were cited in the Hong Kong Standard.