Lenovo quarterly sales climb in weak market

Lenovo Group reported a 10.5 percent increase in its fiscal first quarter revenues, despite a weakening global economy.

Lenovo posted earnings of $1.25 a share for the quarter, up from 78 cents the previous year.

Sales in the Europe, Middle East, and Africa region, for example, increased by 26 percent, while Asia Pacific shipments grew 11 percent.

The computer maker reported revenues climbed to $4.2 billion in the quarter ending June 30, up from $3.8 billion a year ago. Shipments of PCs climbed 14.6 percent for the quarter.

The Americas, however, continued to be affected by a weak economic environment, the company stated.

“Despite a softening global economy, we delivered solid gains in worldwide sales,” Yang Yuanqing, Lenovo chairman, said in a statement.

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