Lenovo revenues fall for 3rd consecutive quarter as PC demand declines

China’s Lenovo reported on Wednesday a 24 percent fall in revenue for the January-March quarter as demand for personal computers (PCs) continued to drop.

The PC maker said Q4 revenue was $12.63 billion, down by 24 percent from the same time the year before. This marks the third consecutive quarter of on-year decline.

For the full year up until March, revenue shrank by 14 percent, marking the first annual decline since 2019. Revenue started contracting last year as demand began to fall.

For the previous quarter, Lenovo reported a decline in revenue of 24 percent, the steepest decline in 14 years.