BEIJING, China - Computer maker Lenovo Group says its latest quarterly profit rose 90 per cent as sales of smartphones and mobile computing technology expanded.
Lenovo Group said Thursday it earned $127 million, or 1.22 cents per share, in the three months ending March 31. Revenue rose 4 per cent over a year earlier to $7.8 billion.
Lenovo ranks a close second behind Hewlett-Packard Co. as the biggest maker of personal computer makers but growth in that market has slowed as consumers shift to mobile Web surfing on smartphones and tablets.
Lenovo said sales of desktop and laptop PCs both declined 2 per cent but still made up a combined 83 per cent of its business. Sales of smartphones and other mobile Internet and "digital home" products rose 74 per cent.