Emerging markets, cost trims buoy Lenovo profit

Computer maker Lenovo Group yesterday posted a net profit for the second quarter, ending three straight quarters of losses, as robust demand from emerging markets and a series of cost saving measures helped negate the company's declining sales in mature markets.

Sales revenue of the world's fourth largest computer vendor during the July-September period declined 5 percent to $4.1 billion, but surged 19 percent compared with the previous quarter. Its worldwide shipments grew 17 percent year-on-year, beating the industry's average growth of 2.3 percent.

Yang Yuanqing, chief executive of Lenovo Group, said the company's share in the world PC market reached an all-time high of 8.9 percent in the second quarter, as its business in emerging markets and the consumer PC business saw rapid growth.