Lenovo Q2 Slumps on Weak Tech Spending

Nov 10, 2008 in Hardware

Lenovo, the world’s fourth largest desktop and notebook vendor, watched its financial second quarter profits drop as the global financial crisis continues and consumers and business users buy less IT hardware. Additional competition from HP, Dell and Acer also had an impact on Lenovo’s bottom line.
- HONG KONG, Nov 7 (Reuters) - Lenovo Group Ltd, the world’s
No.4 PC maker, posted a sharp drop in quarterly profit and warned of tough
conditions as consumers and businesses cut back on technology spending, sending
its stock down 20 percent.
Margins at China’s largest maker of personal computers,…