BEIJING (AP) — Personal computer maker Lenovo Group says its quarterly profit rose 28 percent as sales of smartphones and tablets surged but warned this year's market conditions will be tough.
Lenovo said Wednesday it earned $205 million in the three months ending in December. Global revenue rose 12 percent to $9.4 billion.
Reflecting shifting customer tastes, Lenovo said revenue for its mobile and digital home unit soared 77 percent to $998 million on strong sales of smartphones and tablet computers. Revenue in the bigger but slower-growing PC market rose 7 percent to $7.9 billion.
Lenovo warned that PC demand "remains challenging" due to weakening global economic conditions but said it plans to expand its cloud services and other businesses.