Feb 22, 05:44 AM

Lenovo Overtakes Dell in India's PC Market, Down 7%; Plans AI PC Amid 3% Revenue Rise, 23% Net Drop

In the technology sector, significant shifts have been observed in both the PC and tablet markets, alongside corporate financial performance updates. India's PC market experienced a -7% decline in 2023, despite improvements in the second half of the year. HP maintained its lead, while Lenovo surpassed Dell for the #2 spot. The Indian tablet market also saw a downturn, with a 24.9% decline in shipments in 2023, shipping 4.01 million units, according to the International Data Corporation (IDC). Samsung dominated this market with a 39.5% share. In China, the tablet market witnessed a 5.7% year-over-year decline in shipments for Q4 2023, with Huawei overtaking Apple as the leading brand, marking a significant shift in quarterly rankings since 2010. Lenovo reported a 3% increase in Q3 revenue to $15.72 billion, ending five quarters of decline, although its net income decreased by 23% to $337 million. The company's non-PC revenue now constitutes 42% of its total revenue. Additionally, Lenovo announced plans to release its first PC with artificial intelligence features by mid-year, following a double-digit profit drop. Lenovo's shares gained more than 3% after reporting a return to growth, signaling a positive outlook for PC makers.

#India #HP #Lenovo #Dell #Indian #International Data Corporation #IDC #Samsung #China #Huawei #Apple

Written with ChatGPT (GPT-4).

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