Lenovo, the world’s largest computer maker, has posted its first sales decline in more than two years after the global PC market suffered its worst quarterly downturn on record.
A zero-Covid policy of frequent lockdowns in its home market of China has damped retail demand and disrupted businesses. Lenovo said it accounted for a 12 per cent drop year on year in fiscal second-quarter sales in China, as overall revenues fell 4 per cent to $17.1bn — their first decline in 10 quarters.
“Lenovo once again delivered solid results, even in a challenging global market,” said Yuanqing Yang, chair and chief executive.
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