Lenovo Seems Confident in Managing Consumer Electronics Weakness
Dow Jones
Aug 14
0745 GMT - Lenovo seems confident in managing the headwinds for consumer electronics, Citi analysts say in a research note. Management expects PC shipments to fall around 15% and smartphone shipments to decline around 20% in 2H, with commercial PCs showing more resilience than consumer, the analysts say. To offset the impact of declining unit sales, Lenovo will raise average selling prices, optimize premium product mix and focus on gaining market share, the analysts say, citing management. Citi maintains its buy call on Lenovo but raises its target price to 55.00 Hong Kong dollars from HK$31.00, after Lenovo says it expects to achieve its $100 billion annual revenue target this fiscal year, ahead of its earlier goal of hitting the milestone in two years. Shares are 3.0% lower at HK$33.86.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.