Lenovo Group Ltd, the world's fourth-largest personal computer maker behind HP and Dell, and Acer says it is looking to acquire other PC firms to gain market share.

We are not satisfied with our current market share and global ranking,'' Lenovo's Chairman Yang Yuanqing told Bloomberg Television on Friday. I believe there will be further consolidation in the industry and we hope to seize the opportunity'' to buy, he said.

Last year, the China-based PC maker lost the number 3 position to Taiwanese Rival Acer Inc. Yang said he was not considering acquiring it.

The company had $2.2 billion in cash and equivalents as of December 31, according to company reports.