With Lenovo’s eye on Brazil with plans to set up local shop in the country and the recent resignation of founder Liu Chuanzhi as president, shares of Lenovo, world’s no. 2 PC maker, drop down by more than 6 percent to a more than four-month intraday low. Lenovo’s shares fell as much as 6.3 percent to HK$6.26 in afternoon trade.
Lenovo recently announced results for its fourth fiscal quarter and full year ended March 31, 2012. With full-year record sales of $29.6 billion, an increase of almost 37 percent year-over-year, the company finished its financial year as the world’s second largest PC vendor with a record full-year market share of 12.9 percent. The result was a record full-year pre-tax income of $582 million, an increase of 63 percent year-over-year.
