In May, Lenovo reported 14% revenue decline for the year through March, its first annual fall since 2019, following a pandemic-induced boom for electronics manufacturers.
Worldwide PC shipments fell 7% in the second quarter of 2023, showed data from researcher Canalys.
To help lift PC sales, Lenovo aims to release its first "AI PC" - or PC that can make use of artificial intelligence (AI) without the internet - in the second half of next year, said Chairman Yang Yuanqing.
An employee gestures next to a Lenovo logo at Lenovo Tech World in Beijing, China November 15, 2019.
Overall net income attributable to shareholders in the second fiscal quarter fell 60% to $249 million versus analysts' $235 million estimate.
Persons:
Canalys, Yang Yuanqing, Yang, Jason Lee, it's, Josh Ye, Christopher Cushing
Organizations:
Lenovo Group, HK, LSEG, Lenovo, PC, Reuters, Lenovo Tech, REUTERS, Nvidia, Thomson
Locations:
HONG KONG, Beijing, China, U.S, Hong Kong