China's Lenovo sees full-year revenues rise 20%
China's Lenovo, the world's biggest personal computer maker, has reported a 20% rise in full-year revenues.
Revenues for the year to the end of March rose to $46.3bn, with the firm's mobile phone business contributing some $9.14bn of the total. Its revenues have been helped by the purchase of Motorola in 2014, which has made it the world's third-largest smartphone maker. However, net profits grew by just 1% to $829m, missing expectations. 'Balanced business' Lenovo bought Motorola and IBM's low-end server unit last year in an attempt to diversify beyond the PC business. The firm said it had been "another record year for Lenovo with a more diversified business", but put its poor net profit result down to increased operating expenses. Lenovo said its mobile business, including Motorola, had "delivered record shipments and built a more globally balanced business". The Beijing-based giant also said its market share in the global personal computer sector had grown to a record high of 20.9%.