Lenovo Group (OTC:LNVGY), the world's biggest maker of personal computers, reported flat revenue for the April-June quarter. Total revenue came in at $16.96 billion, in line with an average Refinitiv estimate. Net income attributable to shareholders rose 11% to $516 million.

Global PC shipments fell 11.1% in the past quarter from a year earlier, the largest year-over-year decline since the second quarter of 2013, according to Counterpoint. Lenovo said in a statement that "the PC market is currently experiencing short-term challenges" Counterpoint said Lenovo’s total PC shipments falling 12.7% to 17.4 million units largely due to weak consumer demand.

Lenovo maintained its leadership in the global PC market with a 24.4% share. But strong demand from companies to upgrade their digital capability has fuelled growth in Lenovo’s server and other non-PC business. The company also has a leading position in the tablet and smartphone market.

Tesla Inc Chief Executive Officer Elon Musk has sold 7.92 million shares in the electric vehicle maker worth $6.9 billion. Taiwan's national security officials want to persuade Apple Inc (NASDAQ:AAPL)'s supplier Foxconn to unwind an $800 million investment in Chinese chipmaker Tsinghua.
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