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Lenovo Q1 Profit Climbs; Sees Strong PC Demand To Be A Long-term Trend

Chinese PC and mobile maker Lenovo Group Ltd. (LNVGY.PK) reported Thursday that its first-quarter net income grew 31 percent year-over-year to $213 million. Basic earnings per share for the first quarter were 1.80 US cents or 13.95 HK cents.

Pre-tax income climbed 38 percent from last year to $332 million.

Lenovo reported Group revenue in the first quarter of $13.3 billion, up almost 7 percent from last year on a reported basis, and up 10 percent excluding currency impact.

The PC and Smart Devices Group grew revenue by double digits year-on-year to $10.6 billion.

Looking to the future, the company expects the strong PC demand will be a long-term trend.

As a result, Lenovo said it will focus on innovative products that adapt to the new global environment, further strengthen its global supply chain to meet the fast-growing demand, continue to develop its e-Commerce platform and focus on high-growth segments to drive premium-to-market growth with leading profitability.

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