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China tech

Lenovo pins hope on 'AI-PC' as catalyst after another poor quarter

CEO Yang Yuanqing 'cautiously optimistic' for the rest of the year

Lenovo's revenue for the April-June quarter dropped 24% year-on-year to $12.89 billion, while net profit dropped 66% to $176.52 million.   © Getty Images

HONG KONG -- While its core personal computer business remained depressed during the latest quarter, Lenovo Group, the largest PC maker in the world, is pinning its hopes on a new artificial intelligence-powered device to break the current deadlock.

"AI could be a silver-lining," Chairman and CEO Yang Yuanqing told reporters Thursday during a quarterly earnings call.

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