Home
Laptops
Laptops News
Lenovo shares hit over 4 month low on concern over PC outlook

Lenovo shares hit over 4 month low on concern over PC outlook

By Reuters | Updated: 25 June 2012 13:36 IST

Shares of Lenovo Group Ltd, the world's No.2 PC maker, fell by more than 6 percent to a more than four-month intraday low on market concern over the outlook for the PC market amid the global economic slowdown.

Lenovo's shares fell as much as 6.3 percent to HK$6.26 in afternoon trade, extending earlier losses and hitting the lowest intraday level since February 9.

"The huge increase in volume suggests that a major holder is now exiting the stock," said a trader who declined to be identified because he was not authorised to speak to the media.

An analyst said Lenovo's stock had outperformed peers such as market leader Hewlett-Packard Co and No.3 PC vendor Dell Inc this year, but worries over Europe's economy and a further slowdown in China might dampen PC demand and could affect the Chinese company.

Lenovo shares are still up 22 percent so far this year, outperforming the main Hang Seng Index's 2.9 percent gain, Dell's 16.7 percent fall and HP's 20.1 percent loss.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.