Lenovo reports quarterly profit jump, while revenue declines

Lenovo Group Ltd posted a better-than-expected quarterly profit jump on Wednesday, but also saw a major revenue slump.

Gloomy growth prospects for global personal computers and slowing Chinese smartphone sales sank the company's stocks in Hong Kong.

The world's largest personal computer vendor and the fourth-biggest maker of smartphones said its net profit for the quarter ended Dec 31 stood at $300 million, up 19 percent year-on-year.