Business

Lenovo profits rise further boosted by China growth

  • 16 August 2012
  • From the section Business
Boxes of Lenovo computers
Lenovo has been diversifying into smartphones and tablets to compete with US technology giant Apple

Lenovo, the world's second-largest PC maker, has reported a rise in profits due to its still-growing home market and from sales abroad.

Beijing-based Lenovo made $144m (£92m) in the quarter to June, up 30% from the same period last year.

But the pace of profits growth was the slowest in more than a year amid signs that China's economy is cooling.

However, Lenovo, maker of the ThinkPad, said that it remains "optimistic" on its growth prospects.

"Although challenges to worldwide PC demand remain largely due to weakening economic condition, Lenovo remains both optimistic about the future of the PC market and committed to innovation," it said in a statement.

The firm's sales were boosted by fast-growing developing countries.

Shipments of PCs jumped 59% in the Asia Pacific and Latin America.

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