Lenovo Posts Slower Profit Growth as PC, Smartphone Market Slump

Lenovo Group Ltd. posted its slowest full-year profit growth in five years amid weak demand for PCs and slowing growth in smartphone shipments.

Net income for the the year ended March 31, was $829 million compared with the $830.2 million average of 26 analyst estimates compiled by Bloomberg. Sales climbed to $46.3 billion, with analysts expecting $46.9 billion.

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