(Yicai Global) Aug. 13 -- Lenovo Group, the world’s biggest maker of personal computers, posted an annual 31 percent jump in fiscal first-quarter profit as thecoronavirus pandemic fueled purchases of PCs and smart devices for remote working as well as online gaming and learning.

Net profit was CNY1.5 billion (USD213 million) in the three months ended June 30, the Beijing-based company said in an earnings report released before markets closed today. Revenue rose 6.7 percent to CNY94.6 billion (USD13.3 billion).

Businesses, schools and consumers have stoked PC sales as the pandemic pushes more home and work life online. Lenovo expects the contagion to expand the potential market for PCs, smart devices and cloud-computing infrastructure.

“Lenovo has quickly regained momentum from the impact of the pandemic and is capturing the new opportunities emerging from remote working, education and accelerated digitalization,” Chairman and Chief Executive Yang Yuanqing said in a statement.

The firm’s intelligent devices division, which includes PCs, smart devices and mobiles, saw a 5.2 percent jump in revenue to about USD11.7 billion, a new record for the fiscal first quarter. Its data division’s income jumped 18.9 percent to USD1.6 billion, accounting for 12 percent of total sales amid high demand for cloud-computing services.

Shipments of Lenovo’s Chromebook jumped 17 percent, while online sales revenue climbed 53 percent, offsetting the impact of Covid-19. Income from sales of PCs and smart devices jumped 10.1 percent to USD10.6 billion, which was 80 percent of the group’s total income.

Regionally, China and EMEA revenue surged 16.6 percent and 28.3 percent, while earnings edged up 0.7 percent in the Asia-Pacific region. Sales in the Americas fell 9.1 percent as Latin American demand for smartphones waned and Chromebook components were in short supply.

Shares of Lenovo Group [HKG: 0992] closed down 3.1 percent today at HKD4.7(60 US Cents) today. The benchmark Hang Seng Index was little changed.

Editor: Peter Thomas