China's Lenovo Q2 rises 12.6 percent, beats forecasts
November 8, 2012 3:35 PM EST
Lenovo Group Ltd, on track to become the world's top PC maker, posted a 12.6 percent rise in quarterly net profit, its weakest pace in about three years, as consumers increasingly switched to mobile gadgets from PCs for their computing needs.
Lenovo, which technology research firm Gartner says has overtaken market leader Hewlett Packard Co in PC shipments, reported a net profit of $162 million in the July-September period.
That compared with $143.9 million a year earlier and a $156.3 million consensus forecast on Thomson Reuters I/B/E/S, although the growth was still its weakest performance in three years.
Rival research firm IDC still ranks Lenovo as the second largest PC maker.
(Reporting by Lee Chyen Yee; Editing by Muralikumar Anantharaman)