According to Reuters, Lenovo, the world's largest personal computer manufacturer, said that although the group announced a 65% profit growth in the second quarter on Thursday, the global chip shortage remains a challenge.

The company said it was able to achieve greater growth than the market by ensuring more component supplies than its peers, but it also acknowledged that chip shortages “resulted in delays in order fulfillment and a large backlog of orders for PCs, smartphones, and servers.”

After the results were announced, Lenovo's shares fell 5%. Guotai Junan analyst Gin Yu said that this reflects the market's concerns about how semiconductor shortages will affect global PC shipments.

Research and consulting firm Gartner said last month that with the relaxation of epidemic prevention measures, consumption and education expenditures have shifted from personal computers to other key areas, and chip shortages have restricted notebook computer shipments. Global personal computer shipments increased in September. Has slowed since.

Gartner said that Lenovo has maintained its title of the world's largest PC supplier by shipments, but its growth has slowed after achieving double-digit growth for five consecutive quarters. In the third quarter, Lenovo's global market share increased by 1.8% to 23.7%.

Lenovo announced on Thursday that for the quarter ended September 30, profit attributable to shareholders jumped from US$310 million in the same period last year to US$512 million, but the 65% growth rate was the lowest in the past three quarters. According to Refinitiv data, Lenovo's revenue increased by 23% to $17.9 billion, slightly higher than the average estimate of $17.3 billion by nine analysts.

Lenovo said its sales in China and the United States have grown strongly, but sales in other parts of the Asia-Pacific region have declined due to fewer education deals in Japan. Lenovo added that it expects that the demand for personal computers in the next few years will meet the industry's estimated 345-355 million units. Lenovo’s chairman Yang Yuanqing said in a statement that the company’s R&D investment in the quarter increased by 60%, and the goal of doubling its R&D expenditure within three years still exists.