Chinese computer maker Lenovo Group on May 23 announced a jump in net profit for the financial year of 34 percent, despite the slowing PC market. Net profit for the financial year ended March 31 rose to $635.15 million, up from $472.99 million in 2011/2012. Revenue was up 14.5 percent to $33.87 billion.
The world's number two PC maker gained global market share at the expense of US-based industry leader Hewlett-Packard. The company said its share grew 2.6 percent year-on-year to a record high of 15.5 percent.
The company was boosted by strong performances from its mobile internet and digital home sections, as well as growing shipments for its smartphone business.
"The group's PC business continued to achieve strong performance across the board, outperforming markets in all geographic segments," it said in a statement to the Hong Kong stock exchange, where it is listed.
Lenovo said the company grew in despite the slowing PC market, which declined eight percent year-on-year. China alone accounted for 43 percent of the company's total revenue.
The company announced in November that it had become the global leader in the consumer and notebook PC market and remained the largest PC company in emerging markets including China.