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)
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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.



Albania Shuts Down TikTok for a Year amid Concerns over Violence among Children

The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)
The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)
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Albania Shuts Down TikTok for a Year amid Concerns over Violence among Children

The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)
The TikTok app logo is seen in this illustration taken, August 22, 2022. (Reuters)

The Albanian Cabinet decided on Thursday to shut down TikTok for 12 months, blaming the video-sharing platform for inciting violence and bullying, especially among children.

Education Minister Ogerta Manastirliu said they are in contact with TikTok on installing filters like parental control and the inclusion of the Albanian language in the application.

Authorities had conducted 1,300 meetings with some 65,000 parents who “recommended and were in favor of the shut down or limiting the TikTok platform," the minister said, The AP reported.

The Cabinet initiated the move last year after a teen stabbed another teenager to death in November after a quarrel that started on TikTok.

TikTok did not immediately respond to a request to comment on the government's decision.

When Prime Minister Edi Rama said in December they were aiming at closing the social media platform, TikTok asked for “urgent clarity from the Albanian government” on the case of the stabbed teenager.

On Thursday Rama said they were in a “positive dialogue with the company” which soon would go to the country to offer “a series of measures on increasing the security for children.”

The company said it had “found no evidence that the perpetrator or victim had TikTok accounts, and multiple reports have in fact confirmed videos leading up to this incident were being posted on another platform, not TikTok.”

Albanian children comprise the largest group of TikTok users in the country, according to researchers.

There has been increasing concern from Albanian parents after reports of children being inspired by content on social media to take knives to school, or cases of bullying promoted by stories they see on TikTok.

Authorities have increased police presence at some schools and set up other measures including training programs for teachers, students and their parents.

The opposition has not agreed with TikTok’s closure and has set March 15 for a protest against the move. It said the ban was “an act of intolerance, fear and terror from free thinking and expression.”