China's Lenovo Group, the world's largest PC maker, warned it will hav...
- China’s Lenovo Group, the world’s largest PC maker, warned it will have to raise product prices if U.S. tariffs increase, sending its shares tumbling 6.5% to two-month lows.
U.S. President Donald Trump said this week that he would postpone imposing an additional 10% tariff on Chinese-made products including tablets and laptop computers until December, but would still impose the tariffs on desktops from September. The global PC market grew 1.5% in the June quarter after falling for two consecutive quarters, as threats of increased U.S. tariffs on Chinese goods prompted some manufacturers to frontload shipments, industry analysts said.
Revenue from Lenovo’s personal computer and smart devices group grew 12%, while its mobile business group recorded a 9% fall in sales.
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