Lenovo returns to profit in Q2

China's Lenovo Group, the world's fourth largest personal computer manufacturer, returned to profitability in the second quarter, according to the group's fiscal report.

The group said that it posted a net a profit of $53 million in its second fiscal quarter from July 1 to Sept. 30.

Lenovo's worldwide PC shipments grew 17 percent year-over-year in the second quarter, compared to the 2.3 percent rise in the total global PC sales in the same period, the report indicated.

Lenovo's consolidated sales for the second fiscal quarter decreased 5  percent year-over-year to $4.1 billion, but grew 19 percent over the previous quarter.

The group's sales on domestic market stood at $2 billion in the second quarter, up 9 percent year on year, and accounting for 49 percent of its total sales in the same period.

Influenced by the global financial crisis, Lenovo recorded a heavy loss of $260 million in the 2008 fiscal year. In the first quarter of 2009, the group's deficit reduced to $16 million.

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