Lenovo revenues drop due to falling demand for PCs
Lenovo revenues declined for the first time in 10 quarters due to a steep fall in demand for PCs and tablets. Still, profits rose due to cost-cutting measures and growth in other areas such as its services division.
However, total Lenovo Group revenue for the quarter to the end of September was $17.09 billion, a decline of 4 percent from the $17.87 billion it reported for the same period last year. Lenovo claimed that its healthy cash balance means it remains committed to doubling investments in R&D over the medium term.
Lenovo says that both its solutions and services business and infrastructure business saw double-digit year-on-year growth, with the non-PC divisions of the Lenovo Group now accounting for more than 37 percent of total group revenue, up 11 percent year-on-year.
France Dernières Nouvelles, France Actualités
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