Computer giant Lenovo blamed slowing demand in the Chinese PC market and stiffening competition for a stall in profits. The company, which announced a take-over of IBM's PC business last December, said it recorded profits for the last quarter of 2004 of US$43m, up less than 1% on a year earlier. China's PC market has seen sales grow by a fifth in the last two years, but is now growing more slowly. Lenovo, formerly Legend, remains the biggest player in China, accounting for more than one quarter of the PC market. But it is facing a tough fight with Western firms such as Dell and HP, both of which are increasing market share.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved