Lenovo 3Q profit up by half, warns of disk supply

Lenovo Group Ltd., the world's second biggest personal computer maker, said Thursday that quarterly profit grew by more than half but warned hard drive costs would remain high amid a global shortage.

The company said it's confident of closing in on the top spot in PC sales as it reported strong sales growth across all major markets even as it focuses more attention on the burgeoning smartphone and mobile Internet market.

Net income rose to $153 million, or 1.46 cents per share, in the October-December period, which is the company's third fiscal quarter. That's up 54 percent from the same period the year before. Sales jumped 44 percent to a record $8.4 billion as its share of the global personal computer market hit a high of 14 percent.