عربي English Türkçe اردو فارسى
Logo
Latest News
Technology

China's Lenovo Q3 Revenue Tumbles 24% as PC Demand Slumps

The Lenovo logo is seen in this illustration photo January 22, 2018. (Reuters)
The Lenovo logo is seen in this illustration photo January 22, 2018. (Reuters)
TT
20
TT

China's Lenovo Q3 Revenue Tumbles 24% as PC Demand Slumps

The Lenovo logo is seen in this illustration photo January 22, 2018. (Reuters)
The Lenovo logo is seen in this illustration photo January 22, 2018. (Reuters)

China’s Lenovo Group reported a 24% revenue decline for the third quarter, its second consecutive decline as global demand for computers and smartphones continued to slump.

The world’s largest maker of personal computers (PC) said on Friday that total revenue during the October-December quarter was $15.3 billion, down 23% from the same quarter a year ago.

The results trailed an average Refinitiv estimate of $16.39 billion drawn from seven analysts.

The outbreak of the COVID pandemic in 2020 provided a huge boost in electronic sales for Lenovo and its peers worldwide as many people opted to work remotely and replaced or upgraded their gadgets.

However, demand has begun to fall and Lenovo’s revenue started contracting in the July-September quarter last year.

Most Viewed

 
Technology

Nintendo Sees FY Profit Rising 13%, Switch 2 Unit Sales of 15 Million 

The Nintendo Switch 2 gaming device is pictured at a media event in Tokyo, Japan, April 3, 2025. (Reuters)
The Nintendo Switch 2 gaming device is pictured at a media event in Tokyo, Japan, April 3, 2025. (Reuters)
TT
20
TT

Nintendo Sees FY Profit Rising 13%, Switch 2 Unit Sales of 15 Million 

The Nintendo Switch 2 gaming device is pictured at a media event in Tokyo, Japan, April 3, 2025. (Reuters)
The Nintendo Switch 2 gaming device is pictured at a media event in Tokyo, Japan, April 3, 2025. (Reuters)

Nintendo on Thursday forecast operating profit would rise 13% to 320 billion yen ($2.22 billion) in the year ending March.

The Kyoto-based gaming company said it expects to sell 15 million Switch 2 units in the financial year.

For the year ended March, Nintendo reported operating profit fell 46.6% to 282.5 billion yen.

Nintendo is preparing to launch the Switch 2 on June 5.

The games console will succeed the Switch, which has sold more than 150 million units since its 2017 launch and transformed Nintendo's fortunes after the Wii U flopped.

The launch will test Nintendo's ability to manage its supply chain as it works to minimize disruption from a trade war between the United States and China.

Nintendo paused the start of US pre-orders as it considered the impact of increasing US tariffs. It later said it would maintain pricing at $449.99.

Lottery applications in Japan indicate robust demand for the more powerful gaming device, which offers a bigger screen and better graphics than its predecessor.

Xbox maker Microsoft and PlayStation maker Sony have both hiked console prices in recent weeks.