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And so it begins – Lenovo warns US tariffs will increase prices
- Friday | 16th August, 2019
(Reuters) – China’s Lenovo Group, the world’s largest PC maker, warned it will have to raise product prices if US tariffs increase, sending its shares tumbling 6.5% to two-month lows. “Retail prices for products like PC and smartphones will increase if (U.S.) tariffs increase,” Lenovo Chairman Yang Yuanqing told an earnings call on Thursday. Lenovo emerged as the biggest winner of the global PC market’s surprise rebound in the second quarter. Revenue from Lenovo’s personal computer and smart devices group grew 12%, while its mobile business group recorded a 9% fall in sales. Its PC and smart devices business generates more than three quarters of the group’s total revenue, which rose 5%.
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