Lenovo Comes Up Short on Smartphones as PC Business Soldiers On
- World’s No. 1 PC maker warns of a challenging market ahead
- Profit dived by more than two-thirds in the holiday quarter
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Lenovo Group Ltd.’s mobile-phone business continues to shrink, while its personal-computer division managed anaemic growth in the face of brutal holiday-season competition.
The world’s largest PC maker’s profit plummeted more than two thirds in the December quarter, missing analysts’ projections after HP Inc. threatened its position in North America. Smartphone sales declined almost a quarter globally as Lenovo bled market share to rivals such as Huawei Technologies Co. -- both at home and abroad.