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Lenovo quarterly profit rises 30 percent on growth in smartphone, tablet sales
Reported by: Associated Press
Reported: Wednesday, February 12, 2014 8:40 PM EST
Computer maker Lenovo Group says its latest quarterly profit rose 30 percent from a year earlier on strong growth in sales of smartphones and other mobile devices.
Sales of smartphones and other mobile devices rose 73 percent to $1.7 billion. Sales of laptop computers that supply half the company's revenue rose 11 percent to $5.4 billion while sales of desktop PCs rose 12 percent to $3.2 billion.
Lenovo bought part of IBM Corp.'s server business for $2.3 billion in January and a week later bought the Motorola smartphone business from Google Inc. for $2.9 billion.