Lenovo eases profit decline

Lenovo’s quarterly profit has fallen less than expected after the global personal computer market eked out growth for the first time since 2012.

The world’s second-largest PC maker reported a 41% slide in net income to $107m in the three months to the end of March. Market consensus had forecast income of $97.9m. Revenue rose 5% to $9.6bn, compared with the $9.65bn projected.

Lenovo narrowly lost its top position in global PCs to Hewlett-Packard during the quarter but managed to increase market share as industry shipments increased 0.6% — the first time they’ve risen since early 2012.