Lenovo's first-quarter profit jumps 64 percent, beating estimates

China's Lenovo Group Ltd, the world's biggest personal computer (PC) maker, said on Thursday its first-quarter net profit rose 64 percent, beating estimates as solid PC sales offset tepid smartphone demand. Beijing-based Lenovo said in a filing that net profit grew to $173 million for the quarter ended June from $105 million in the same period a year earlier. "Competition in the China smartphone market remained very keen while demand remained soft due to the slow economy." Lenovo consolidated it