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Lenovo Group's Q1 net profit up 30%

Aug. 16, 2012 (China Knowledge) - Lenovo Group Ltd<0992>, the world's second-largest PC maker, announced today that its net profit grew 30% YoY to US$141.4 million in the three months ended Jun.30, driven by robust growth in PC shipments in emerging markets.

The company's revenue was US$8.01 billion in the first fiscal quarter, up 35% YoY. Revenue from PC and related business rose 25% to US$7.14 billion in the period.

Gross profit margin dropped 0.5 percentage points to 12% in the period.

Lenovo saw its global PC shipments increase by 24% in the quarter, versus a 2% decline in the PC industry. PC shipments in China rose by 9.2% in the period, and shipments in other emerging markets surged 59.2%. The group leads the Chinese PC market with a 30% share.

The group said that it became the second-largest smart phone maker in China with a 13% share in the quarter after Samsung Electronics Co.

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