Lenovo 4Q profit gains 90% on PC market share

BEIJING — Lenovo, the world’s second-biggest maker of personal computers, reported a 90 percent gain in fourth-quarter profit after increasing its market share and boosting smartphone sales.

Net income climbed to $126.9 million in the three months ended March, from $66.8 million a year earlier, Lenovo said in a statement Thursday.

Lenovo is developing mobile devices such as smartphones and tablets as it seeks to lure customers from Apple and Samsung and weather a global slump in demand for PCs.

Revenue gained 4.5 percent to $7.83 billion. That compares with the $7.98 billion average of 14 analysts’ estimates compiled by Bloomberg.

Lenovo, which has its headquarters in Beijing and Morrisville, N.C., fell 1 percent to HK$7.11 at the noon break in Hong Kong trading before the announcement. It has climbed 1.3 percent so far this year, surpassing the 1 percent gain for the city’s Hang Seng Index.