Lenovo Revenues Plunge 24% In Q4 Amid Demand Sluggishness In PC Market
Portfolio Pulse from Nabaparna Bhattacharya
Lenovo Group Ltd. reported a 24% YoY decline in Q4 revenue to $12.6 billion, amid a sluggish PC market. Non-PC revenue mix reached a historic high of 43%, up 12 points YoY. The company expects the PC and smart devices market to resume growth in the second half of 2023.
May 24, 2023 | 1:15 pm
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Lenovo's Q4 revenue declined 24% YoY, impacted by a sluggish PC market. The company expects growth to resume in H2 2023, with non-PC revenue mix reaching a historic high.
Lenovo's Q4 revenue decline is a direct result of the sluggish PC market, which negatively impacts the company's short-term financial performance. The company's stock price fell 2.46% on Tuesday, reflecting investor concerns. However, the growth in non-PC revenue mix and the expected market recovery in H2 2023 may help offset the negative impact in the long term.
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