Yang Yuanqing, chairman and chief executive officer of Lenovo Group Ltd., speaks during a news conference in Hong Kong, China, on Thursday, May 25, 2017. Lenovos quarterly profit fell less than expected after the global personal computer market eked out growth for thefirst timesince 2012. Photographer: Anthony Kwan/Bloomberg
HONG KONG: China’s Lenovo Group Ltd, the world’s largest personal computer (PC) maker, said it returned to profit in a year when its PC shipments fell at a slower rate than the overall market as consumer demand continued its downward trend.
Profit reached US$535mil in the year to March on revenue that fell 4%, reversing a loss of a year prior and just missing analyst estimates. The news sent Lenovo shares up as much as 6% in Hong Kong trade.
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