Lenovo, the world's second-largest PC maker, has recorded a 90 per cent hike in net profit for the March quarter compared to a year earlier.
The Chinese firm beat analysts' expectations by reporting a quarterly net profit of $127m (£84.2m) on a four per cent revenue increase to $7.8bn (£5.1bn). A year earlier, Lenovo had a net profit of $66.8m (£44.2m). Net earnings for the company's fiscal year ended in March increased by 34 per cent to $635m (£420.9m), while revenue for the year grew by 15 per cent year on year to $34bn (£22.5bn).
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The company has also increased its market share. In the first quarter of this year, research firm IDC found that it had 15.3 per cent of the PC market, with HP having 15.7 per cent, falling from 17.7 per cent.
Unlike most PC makers in the current climate, Lenovo has managed to increase sales. It succeeds by focusing on growing emerging markets and using aggressive pricing, leaving it with razor thin margins.
