Lenovo’s growth slips again in India amid weak PC market

Chinese computer manufacturer Lenovo India faced a second consecutive year of a fall in sales and net profit in FY24, when the country’s computer market slowed down from the Covid-19 peak. The company’s total income declined 14% year-on-year to Rs 10,847 crore, while net profit fell 3% to Rs 100 crore, as per the company’s filing with the Registrar of Companies. For FY23, the company had reported a 12% drop in sales while net profit fell a sharper 45%.