For the year, Lenovo’s revenue came in at $45.35 billion, up 5 per cent, with gaming PC revenues almost doubling. China’s Lenovo Group said its annual revenue climbed to a three-year high, led by a double-digit sales growth in the fourth quarter, as business at its core personal computer and smart devices segment improved. The PC business will continue to see premium products such as gaming PC and workstations driving revenue growth, Chief Operating Officer Gianfranco Lanci said. “I think the company is in much better shape than it was six-nine months ago,” he told Reuters on Thursday, adding that Lenovo was now the world’s top gaming PC maker. Shares of the company rose as much as 4 per cent on the news. Lenovo, which lost the world’s largest PC maker crown to HP Inc in 2017, has seen its core business suffer from a shrinking market globally, while its smartphone business struggles to stay ahead of fierce competition. But in the fourth quarter ended March, its revenue from the PC and smart devices business jumped 16 per cent, accounting for almost three-quarters of a total $10.6 billion for the period. For the year, Lenovo’s revenue came in at $45.35… Read full this story
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