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China’s Lenovo posts 64per cent slump in quarterly profit, but beats expectations

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China's Lenovo Group , the world's biggest PC maker, posted a better than expected quarterly profit on Wednesday and said it could benefit from the "new normal" of working from home.

FILE PHOTO: An employee gestures next to a Lenovo logo at Lenovo Tech World in Beijing, China November 15, 2019. REUTERS/Jason Lee


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HONG KONG: China's Lenovo Group , the world's biggest maker of personal computers (PCs), posted a better-than-expected quarterly profit on Wednesday and said it could benefit from the "new normal" of working from home.

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"This trend is not only leading to a growth in PCs and smart devices, but also in the supporting data centres and infrastructure to power faster networks and digital consumption," said Lenovo in a statement.

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Lenovo reported a 64per cent slump in net profit for its fourth quarter, ended March 31, to US$43 million due to disruption caused by the coronavirus crisis, beating an average estimate of US$7.49 million by seven analysts, according to Refinitiv data. The Chinese company had reported a net profit of Read More – Source