|Bid||4.430 x 0|
|Ask||4.440 x 0|
|Day's Range||4.370 - 4.500|
|52 Week Range||4.370 - 5.540|
|PE Ratio (TTM)||11.76|
|Dividend & Yield||0.03 (5.99%)|
|1y Target Est||N/A|
Investors are giving up on Lenovo Group Ltd., the Chinese firm that muscled its way on to the global technology stage through purchases of IBM’s PC division and the Motorola smartphone business.
China's biggest PC seller said chip prices will continue to rise for the rest of the year and could force it into a price hike.
Chinese personal computer maker Lenovo Group Ltd warned of higher costs and margin pressure due to shortages of components like memory chips, as it posted its first quarterly loss in almost two years on Friday. It was the company's first quarterly loss since September 2015 and lagged analysts' average forecast of a $5.29 million profit, sending the stock down as much as 5 percent to a year-low of HK$4.52 during Friday morning trade. The outlook for the rest of the year was challenging as component shortages would dive costs higher, possibly forcing the company to raise its selling price to protect margins, executives said.