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Lenovo Profits Up 43% As HP Struggles To Supply Stock

Lenovo Group who is believed to have a ‘large shipment’ of notebooks about to be distributed in Australia is set to report their global results with a sharp rise in profits after sales jumped 12%, globally shipment volumes have slumped this year according to analysts.

The world’s largest personal-computer maker is expected to post net profit of $564 million on revenues of US$19.37 billion.

Profits are up 43% from $395 million a year earlier.

Lenovo’s shipment volume fell 6.5% in the December quarter, while total market share edged down to 23.7% from 25.5% a year earlier, according to market research firm Canalys.

While the company’s shipment tally still took first place in the PC market during the quarter the business is under pressure from Dell as HP struggle to get stock to supply the channel.

HP’s business has been confronted by a supply shortage of semiconductors, as fast-rising demand outpaced production capacity.

The full results are due at 12 noon today.

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