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China's Lenovo rises 4 pct after Q1 results

Thu Aug 7, 2008 10:26pm EDT

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HONG KONG, Aug 8 (Reuters) - Shares in Lenovo Group Ltd (0992.HK), the world's fourth-largest PC maker, rose as much as 4 percent on Friday after it posted a 65 percent rise in quarterly earnings.

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China's largest maker of personal computers posted a net profit of $110.49 million from April to June, up from $66.84 million a year ago, and just ahead of the average forecast of $107.47 million from four analysts polled by Reuters.

Lenovo's falling margins in the face of keen competition has concerned analysts, but they say Lenovo, which competes with Hewlett-Packard (HPQ.N), Dell Inc (DELL.O) and Asian rival Acer (2353.TW), should fare better over the long run because of its commanding market share in China and in emerging markets.

Shares in Lenovo rose to HK$5.45 at 0222 GMT. (Reporting by Judy Hua; editing by Jonathan Hopfner)

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