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Lenovo Group: The global personal computer market is expected to quickly bottom out

Time:2023-06-02 Views:963
Source: Mantianxin
    On May 24th, Lenovo announced its full year and fourth quarter results for the fiscal year 2022/23 as of March 31, 2023: revenue for the year was $61.947 billion, a decrease of 14% year-on-year, and net profit was $1.608 billion, a decrease of 21% year-on-year; In the fourth fiscal quarter, the revenue was $12.635 billion, a decrease of 24% year-on-year, and the net profit was $114 million, a decrease of 72% year-on-year. This is Lenovo‘s second consecutive quarter of year-on-year profit decline.
    Lenovo stated in its financial report that slowing demand and exchange rate fluctuations were the reasons for the decline in performance.
    According to financial report data, sales of PCs, smartphones, and other devices, which account for over 60% of total revenue, decreased by 21% in the 2022/23 fiscal year, dragging down Lenovo‘s overall performance. In the previous fiscal year, Lenovo Intelligent Equipment Business Group (IDG) had revenue of $49.371 billion and operating profit of $3.598 billion; Last year, the revenue for the same period was $62.31 billion, and the operating profit was $4.738 billion.
    According to Gartner‘s preliminary survey, global PC shipments in the fourth quarter of 2022 totaled 65.3 million units, a decrease of 28.5% compared to the fourth quarter of 2021. This is the quarter with the largest drop in shipments since Gartner began tracking the PC market. In 2022, PC shipments reached 286.2 million units, a decrease of 16.2% compared to 2021.
    In the first quarter of 2023, the global shipment volume of personal computers (PCs) was 56.7 million units, a continued decrease of 28% year-on-year. However, Lenovo stated that both the group‘s sales data and the actual sales data sold to end users indicate a relatively gradual decline in terminal demand. At the end of the year, the group‘s personal computer business made significant progress in reducing channel inventory and remained ranked first by market share.
    In the previous fiscal year, Lenovo‘s inventory decreased by 24% year-on-year, and activation figures show that global user demand for PCs remains stable. Multiple market institutions predict that the global personal computer market is expected to stabilize and rebound in 23H2 after experiencing destocking, and further accelerate in 2024.
    Although the personal computer market has been weak in the past few quarters due to channel inventory adjustments, the adjustment is nearing its end, and the trend of shipment and activation volume will become increasingly consistent. It is expected that the entire smart device market is expected to stabilize in the second half of this year. "Lenovo Group Chairman and CEO Yang Yuanqing said that IT services will resume high growth and drive the entire IT market to return to moderate growth in 2023.
    According to public data, it is expected that the global artificial intelligence IoT market size will reach 11.2 trillion US dollars by 2025, a tenfold increase compared to 2017. IDC predicts that the intelligent collaboration market is expected to reach 7.36 billion US dollars by 2025, with a compound annual growth rate of 7.0%. The compound annual growth rate of smart home devices will reach 5.9%.
 












   
      
      
   
   


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