JUGGERNAUT: China's Lenovo Group said net income jumped 23% in the first fiscal quarter, beating estimates, as it consolidated its position in the PC market while boosting smartphone shipments. — Reuters
BEIJING: China's Lenovo Group said first-quarter profit jumped 23%, beating estimates, as a surge in smartphone sales showed how quickly the world's biggest personal computer maker is transforming itself into a major player in mobile technology.
Beijing-based Lenovo said on Thursday net income climbed to US$214mil (RM680.91mil) in the three months through June from US$174mil (RM553.64mil) in the same period a year earlier, the opening quarter of its fiscal year. That was ahead of estimates of US$202mil (RM642.66mil), according to a Thomson Reuters SmartEstimate poll of analysts.
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