China’s Lenovo hits second-quarter profit primarily due to asset sale

(Reuters) – China’s Lenovo Group Ltd, the world’s largest personal computer (PC) manufacturer by shipments, on Thursday said it returned to profit in its second fiscal quarter, beating analyst estimates, due primarily to gains from an asset sale.
Growth in the consumer PC market in particular has been sluggish in recent years as tablet computers and increasingly capable smartphones become widespread.
Lenovo is the world’s largest PC vendor with a 21.3 percent market share