Slower sales: Boxes containing Lenovo desktop computers. Lenovo's PC shipments fell 4% year-on-year during the quarter compared with an 11% decline in the broader industry. And the company took 5.4% of the global smartphone market in 2015. — Reuters
HONG KONG: China's Lenovo Group Ltd reported a forecast-beating third-quarter net profit on Feb 3, but a disappointing drop in revenue amid a slowing global PC and smartphone market sent its shares tumbling 11%.
Lenovo Chief Executive Yang Yuanqing reiterated the company's shift to emerging markets outside of mainland China, such as India and South-East Asia, to counter the sales drop at home as the once booming smartphone market has become saturated.
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