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Lenovo sees boost in Q2 profit

The world's second-largest PC brand, Lenovo has reported a better-than-expected 88% increase in second-quarter profit, helped by acquisitions and an increase in sales in emerging markets such as China, Reuters has reported. Lenovo reported a profit of $143.92m for the second quarter ended September, up from $76.59m a year earlier. Despite the positive results, worries over a shortage of hard disk drives due to severe floods in Thailand and weak demand in developed markets such as the US and Europe were likely to dim the outlook for Lenovo and its PC peers, analysts said. The company, which overtook Dell Inc this year to claim the No 2 spot in the third quarter, trails leader Hewlett-Packard Co after a series of acquisitions in Japan and Germany.