BEIJING -- China's IT giant Lenovo has surpassed US-based Hewlett-Packard, or HP, as the world's largest PC maker in market share, an internationally recognized research firm report shows.

According to the third quarter estimate report released by the US-based Gartner on Wednesday local time, Lenovo's PC market share is estimated to surge 9.8 percent year-on-year to 15.7 percent, 0.2 percentage point higher than that of HP.

Research firm IDC said in a research report that Lenovo's PC sales volume is expected to jump 15.7 percent to a record high of 13.8 million in the third quarter, but its market share will remain 0.2 percentage point below HP's.

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It said Lenovo has been the PC maker with the fastest growth over the past three consecutive years.

"Although competition was fierce in the PC market, I firmly believe there is still room for continuous profit growth," said Yang Yuanqing, chairman and CEO of the Lenovo Group.

Yang said becoming a leading enterprise in the PC market is just a milestone during the company's development, as it is also looking to become a leader in other markets, such as the smartphone market.