Lenovo Yang Yuanqing talks about PC business: the epidemic has led to a slowdown in shipments and will reach the annual level of 320 million units in the future.

On the morning of August 10, Lenovo announced the results of the first quarter (April-June) of the 23rd fiscal year. Yang Yuanqing, chairman and CEO of Lenovo Group, said at the performance meeting that the epidemic had an impact on PC shipments and would reach more than 320 million a year in the future.

According to Yang Yuanqing, 70 per cent of Lenovo's business is overseas, but its main production base is in China, using made in China to supply the global market. This is a very important guarantee for global business.

"with regard to the PC business, the outbreak has fully proved that PC is an indispensable productivity tool, and the demand is higher than it was before the epidemic. Did someone say that smartphone tablets can replace computers? now I believe everyone knows that computers with keyboards and larger screens are indispensable to the office. It is a productivity tool."

Yang Yuanqing said that Lenovo expects PC shipments of about 300 to 310 million units this year, which may decline due to the epidemic, but will return to more than 320 million a year in the future.

This morning, Lenovo released a new issue of financial results. According to the financial report, Lenovo's revenue in the first quarter was nearly 112 billion yuan, an increase of 0.2% over the same period last year, excluding exchange rate fluctuations, and net profit was 3.4 billion yuan, up 11% from the same period last year. Net profit adjusted for non-Hong Kong financial reporting standards was 3.67 billion yuan, up 35% from the same period last year.