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Lenovo Surpasses Analysts’ Forecast, Posts Nearly Double Profits

China-based computer manufacturer Lenovo has beaten analysts forecast as the company reported nearly double net profit for the second quarter of the current financial year.

According to PC World, Lenovo on Thursday reported 98 percent profit in its three months quarter sale that ended on 30 June, to reach US $108 million when compared to company’s earnings reported during the same period last year. The revenue generated during the same quarter saw hike of 15 percent to reach $5.9 billion.

"The board is very satisfied with Lenovo's first quarter results. Since we adjusted our leadership team in early 2009, our business continues to climb and everything has been executed well according to our original plans," chairman of Lenovo, Liu Chuanzhi said during the earnings call.

Chuanzhi also added that the current numbers have helped the company to become the third largest computer vendor company across the world. Lenovo remains just behind HP and Dell in Europe in the personal computer market.

Nearly 59.8 percent of the revenue generated by the company during the latest quarter is due to the sale of laptops. He went on to add that the company managed 46 percent raise in the number of shipments in emerging global markets.