Despite the PC market due to experience its first decline in over a decade due to the emergence of smartphones and tablets, Lenovo appears to be one of the few PC vendors succeeding within a weak market.
For the firm's fiscal second quarter that ended on September 30, it reported record sales of $8.7 billion, representing an increase of 11 percent from the same period in 2011.
Elsewhere, PC shipments rose by 10.3 percent, which is a commendable gain when considering that shipments for the overall PC industry decreased by more than 8 percent.
Lenovo now boasts a 15.7 percent share of the global PC market, which is its highest market share since its inception. Hewlett-Packard remains as the market leader with a market share of 19.5 percent during the last quarter.
With record sales, Lenovo is now the world's biggest laptop vendor, with second-quarter shipments rising by 11.3 percent from 2011. Desktop shipments rose to 8.8 percent, with the overall industry dropping by 9 percent.
The company made a net profit of $162 million in the second quarter, an increase of 13 percent from $144 million in 2011. Earnings exceeded $154.6 million, subsequently beating analysts' estimates.
As for its mobile division, Lenovo made $718 million, representing a 155 percent increase from 2011. The firm is now among the top five global tablet vendors through a market share of 1.4 percent.
"Our global PC market share reached another historic high, moving us closer to our dream of becoming the worldwide PC leader," Lenovo CEO Yang Yuanqing said.