Lenovo to overtake HP as the world's biggest PC maker

Lenovo, which became the world's No. 2 PC vendor in the third quarter of 2011, had a 14.9 % Global Market Share in the April-June quarter of 2012, a mere 0.6 percentage point away from HP's 15.5 %.

China accounts for about 42 per cent of Lenovo's total revenue, with the bulk of that coming from PC sales.

Lenovo Group Ltd is on track to overtake Hewlett-Packard Co as the world's biggest PC maker by sales as soon in 2012 making it the first Chinese company to grab the top spot globally in a technology sector.

Lenovo's rise has been helped by its purchase of Germany's Medion and a joint venture with Japan's NEC Corp in 2011 as well as its acquisition of IBM Corp's PC business in 2005.

Investors have rewarded Lenovo for its market share gains, sending its stock up by around 16 % in 2012 and outpacing rivals HP, third-ranked Dell Inc and No. 4 Acer Inc, whose stocks have dropped over the same period.