On Thursday, China’s Lenovo Group reported its first revenue fall in 10 quarters due to fall in sales caused by COVID lockdowns. The world’s largest maker of personal computers reported that total revenue during the quarter was USD 17.09 billion, down 4 per cent from the same quarter a year ago. Together with Q2 results, Lenovo reported a 2 per cent decline in growth for its fiscal first half.

The company’s struggles reflect a weakening PC market worldwide. Lenovo further reported that the net income attributable to shareholders for Q3 increased 6 per cent to USD 541 million.

However, the company has said that revenue from China dropped 12 per cent from the same quarter last year.

Headquartered in both China and the US, Lenovo is an American-Chinese technology giant specialising in consumer electronics and personal computers.