December 1, 2023

Lenovo, the world’s largest maker of PCs, reported its fifth-straight quarter of gross sales decline, but it surely now sees “clear indicators of restoration” throughout the {industry}. The agency submit a internet earnings of $273 million on revenues of $14.41 billion for the quarter ending September 30. These figures symbolize year-over-year declines of 54 % and 16 %, respectively.

“Due to our robust execution, operational excellence, and steady funding in innovation, we delivered consecutive quarter-on-quarter efficiency enhancements, indicating an encouraging trajectory to restoration,” Lenovo chairman and CEO Yuanqing Yang stated. “With steady execution of our clever transformation technique, and with our AI ecosystem and partnership additional strengthened, we are going to leverage our full-stack AI capabilities from pocket to cloud to allow hybrid AI purposes for each enterprise and each particular person, in the end driving sustainable progress for our enterprise.”

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The Clever Gadgets Group (IDG) that features Lenovo’s PC and smartphone companies skilled a YOY income decline to $11.5 billion, but it surely was worthwhile, with an industry-leading working margin of seven.4 %. The agency famous that it stays the world’s greatest maker of PCs in each unit shipments and activations, “regardless of market challenges.”

Wanting forward, Lenovo says that it’s going to “totally leverage generative AI to speed up the launch of subsequent era AI units, together with the launch of an AI PC subsequent 12 months.” The agency introduced final quarter that it was investing $1 billion in its “AI for all” initiative and it just lately hosted its annual Tech World occasion, which centered on its “wealthy sensible system portfolio together with AI-enabled PCs, smartphones, and tablets, in addition to AI-ready and AI-optimized infrastructure, options, and companies.”