July 11, 2013 / 2:21 AM / in 5 years

Lenovo shares rise 2 pct after overtaking HP as top PC vendor

HONG KONG, July 11 (Reuters) - Lenovo Group Ltd shares rose as much as 2 percent on Thursday after major technology research firms ranked it as the world No.1 in PC shipments in the second quarter, although the PC market saw overall sales fall.

Lenovo shares were up 2.0 percent at HK$7.04 during early trade, outperforming the main Hang Seng Index’s 1.9 percent rise.

Its PC market share rose 16.7 percent in the second quarter, higher than Hewlett-Packard Co’s 16.4 percent and up from 15.0 percent during the same period a year earlier, research firm IDC said.

IT research and advisory company Gartner said Lenovo reached 16.7 percent share this quarter, higher than HP’s 16.3 percent in the three months ending June. Both firms saw global PC shipments slump 11 percent during the same period.

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