Lenovo profit more than doubles to $162m

Chinese tech heavyweight Lenovo Group Ltd saw its profit more than double in the quarter which ended in June, on the back of a record high personal computer market share and strong performance in its internet data center business.

Its profit hit $162 million compared with an average estimate of $154 million by nine analysts, according to data service provider Refinitiv. Its revenue rose to $12.51 billion, marking year-on-year growth for the eighth consecutive quarter.

Yang Yuanqing, chairman of Lenovo, said the Beijing-based company has cemented its position as the world's largest PC maker, grabbing a record 24.9 percent market share in the quarter.