Lenovo Profits Sink 75% As PC Demand Continues Nosedive

Lenovo, the world's largest PC maker, is facing a significant decline in revenue and profit due to decreased demand for personal computers in a post-pandemic world. According to The Register, the company "reported (PDF) revenue of $12.635 billion for Q4 of its fiscal 2023 ended March 31, down a brutal 24 percent year-on-year. Pre-tax profit was down 75 percent to $130 million on the back of workforce restructuring charges." From the report: The Intelligent Devices Group -- the PC and smart gadge