Top China PC maker posts earnings above estimatesBloombergLenovo Group Ltd’s (聯想) earnings climbed 6 percent after China’s top PC maker relied on cost reductions and new businesses to weather an unprecedented slump in global computing demand. Photo: ReutersLenovo and rivals Dell Technologies Inc and HP Inc are struggling with a global PC market that saw its steepest quarterly drop on record — the fourth straight decline in shipments. The effect on Lenovo’s sales is limited because such products are only a small part of the company’s business in China, Yang said. Lenovo last quarter lowered spending on research and development as well as advertising and promotions to support its profit margins. The company has been counting on growth from businesses beyond its core division — such as in servers, cloud computing and data storage — to help offset worsening PC sales.

Source: Taipei Times November 04, 2022 02:25 UTC