Industry executives said this is a reflection of the overall fall in PC demand in FY23 post the Covid peak in sales then due to work and study from home and also due to high inflation impacting consumption. In the FY23 annual report filed to RoC, Lenovo India managing director Shailendra Katyal said the company’s “PC business navigated global uncertainties, supply chain disruptions, inflation and high interest rates.”
In May, Lenovo reported 14% revenue decline for the year through March, its first annual fall since 2019, following a pandemic-induced boom for electronics manufacturers.
5g Tablets: Samsung’s shipments fell the highest at 32% year-over-year in the quarter that ended September, while shipments of Lenovo fell 30% year-over-year. Fifth-ranked Xiaomi grew the fastest at 98% year-over-year, whereas Realme grew 86% year-over-year helping it secure the fourth position.