Lenevo has posted a 54% increase in its third-quarter profits after increasing sales of office computers and acquisitions in Germany and Japan.

Revenue in Lenovo’s mature-markets division, which includes operations in the U.S., Japan and western Europe, jumped 81 percent to $3.6 billion. The Chinese company acquired control of Medion AG, a Essen, Germany-based computer maker, and the PC unit of Tokyo-based NEC Corp last year.

Lenovo sold more computers including Thinkpad laptops to businesses in the U.S. and emerging markets, defying an industry slump. Chief Executive Officer Yang Yuanqing is stepping up development of smartphones and tablets to widen the Chinese company’s product line. Lenovo’s shipments of smartphones in China grew four times last quarter, compared with three months earlier, while sales of tablets also increased, CEO Yang said in a conference call. The company will introduce a “Smart TV” product in the country in April, he said.

Hewlett-Packard accounted for 16.3 percent of the global PC market last quarter, declining from 19.4 percent a year earlier, according to research company IDC. Lenovo increased its market share to 14 percent from 10.3 percent, ahead of Dell, which gained to 12.9 percent from 12 percent, according to IDC.