Lenovo becomes number one PC maker

<p>Lenovo has announced its latest financial results.</p>

The latest financial results released by Lenovo have claimed that the firm has become the biggest PC maker in the world for the first time.

It was announced by the company that it recorded pre-tax income of $215 million (£138 million) and earnings of $174 million in the first fiscal quarter.

Lenovo's first quarter pre-tax income was revealed by the firm to have increased 16 per cent year-over-year, sealing a solid period for the organisation.

As well as becoming the world's biggest PC manufacturer, Lenovo announced that it recorded its highest-ever quarterly market share of 16.7 per cent up during the quarter, up 1.7 points year-over-year.

Yang Yuanqing, chairman and chief executive officer, said: "Our strong performance in PC is fueled by balanced growth, through our consistent execution of the right strategy."

The results helped to push the share price of the firm higher today (August 15th) and at the close of the Hong Kong Stock Exchange its stocks were selling over two per cent higher than at the start of the session.

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