By Josh Ye
HONG KONG (Reuters) – China’s Lenovo Group Ltd on Wednesday reported a 24% fall in revenue for the January-March quarter, meeting market expectations, as demand for personal computers (PCs) continued to slump.
The world’s largest PC maker said fourth-quarter revenue was $12.63 billion, down 24% from the same period a year earlier and marking the third consecutive quarter of on-year decline.
The result compared with the $12.74 billion average of eight analyst estimates compiled by Refinitiv.
For the full year through March, revenue shrank 14%, marking the first annual decline since 2019.
(Reporting by Josh Ye; Editing by Christopher Cushing)
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