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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)
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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.

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Manga Productions Signs Publishing Agreement for 'Dynasty Warriors: Origins' with Japan's Koei Tecmo

"Dynasty Warriors: Origins" will be released in the Middle East and North Africa (MENA) region on January 17, 2025. (SPA)
"Dynasty Warriors: Origins" will be released in the Middle East and North Africa (MENA) region on January 17, 2025. (SPA)
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Manga Productions Signs Publishing Agreement for 'Dynasty Warriors: Origins' with Japan's Koei Tecmo

"Dynasty Warriors: Origins" will be released in the Middle East and North Africa (MENA) region on January 17, 2025. (SPA)
"Dynasty Warriors: Origins" will be released in the Middle East and North Africa (MENA) region on January 17, 2025. (SPA)

Manga Productions, a subsidiary of the Mohammed Bin Salman Foundation (Misk), has signed a publishing and distribution agreement with the Japanese company Koei Tecmo for the release of the new game "Dynasty Warriors: Origins" in the Middle East and North Africa (MENA) region on January 17, 2025.

The game will be available on PlayStation 5, Xbox Series X|S, and PC. Manga Productions will collaborate with Koei Tecmo to localize the game for Arabic-speaking audiences in the MENA region and provide opportunities for Saudi talents to participate in the process, reported the Saudi Press Agency on Monday.

The company will also handle the game's publishing and marketing efforts.

This latest installment in Koei Tecmo's renowned "Dynasty Warriors" series offers players the chance to engage in legendary battles and devise thrilling combat strategies. The game immerses players in the mythical world of the Three Kingdoms of ancient China, which is filled with heroic characters and intense wars, appealing to both long-time fans and newcomers to the series.