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Chinese PC maker Lenovo posts worst revenue drop in 14 years
来源：shippingazette 编辑：编辑部 发布：2023/02/27 14:16:33
CHINA's Lenovo, world's biggest maker of personal computers posted the worst revenue decline in 14 years as global demand for electronics slumped, Reuters reported.
Lenova said it would cut spending and make workforce adjustments in the face of posting a 24 per cent year-on-year plunge in revenue the October-December quarter to US$15.3 billion. The results trailed an average Refinitiv estimate of $16.39 billion drawn from seven analysts.
The Covid scare provided a huge boost in electronic sales for Lenovo in 2020 and as many people opted to work remotely and replaced or upgraded equipment.
However, demand has begun to fall and Lenovo's revenue started contracting in the July-September quarter last year.
Lenova said it would cut spending and make workforce adjustments in the face of posting a 24 per cent year-on-year plunge in revenue the October-December quarter to US$15.3 billion. The results trailed an average Refinitiv estimate of $16.39 billion drawn from seven analysts.
The Covid scare provided a huge boost in electronic sales for Lenovo in 2020 and as many people opted to work remotely and replaced or upgraded equipment.
However, demand has begun to fall and Lenovo's revenue started contracting in the July-September quarter last year.