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Lenovo profits surge on strong sales

Xinhua, August 18, 2016 Adjust font size:

China's largest computer maker Lenovo Group reported a 64 percent increase of net profits in the second quarter on the back of "better than expected" PC and tablet sales, according to quarterly results announced Thursday.

The vendor's profit for the quarter was 168 million U.S. dollars, although its revenue fell 6 percent compared to the same period last year.

Lenovo's global PC unit shipments declined 2 percent year on year to 13.2 million, outperforming the market decrease of 4 percent this quarter.

The company's major rival, Apple saw its Mac sales down 11.3 percent year on year to nearly 4.3 million units in the same period.

Lenovo, which has the Thinkpad brand, said its worldwide PC market share was 21.1 percent for the quarter, up 0.4 percentage point year on year.

Its tablet business also performed well, with shipments increasing 3 percent year on year, against a market decline of 11 percent.

Americas was Lenovo's largest market, accounting for nearly one third of its total revenue. Endi