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November 6, 2014

Lenovo reports 19% rise in Q2 net profit

Chinese firm heightens device attack following Motorola acquisition.

By Ben Sullivan

PC maker Lenovo has reported a 19% rise in net income in its second quarter earnings.

However, shares have fallen following revenue and are not meeting analysts’ expectations.

Sales from its mobile division fell 6% to $1.4bn, despite a 7% hike in quarterly revenue to $10.5bn.

Sales of Lenovo’s hardware, such as PCs and laptops, rose 6.4% and 0.9% respectively, despite a shrinking PC market. Net income came to $262m, slightly beating analyst expectations of $260m.

Last week, Lenovo completed its acquisition of Motorola mobility. The move gives Lenovo control of Motorola’s Moto and Droid smartphones, along with over 3,000 employees.

The acquisition bumped Lenovo up to the third bestselling smartphone maker, behind Samsung and Apple. Lenovo said that it is now on track to ship 100 million mobile devices from both its existing mobile division and the newly-acquired Motorola division by March 2015.

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