Lenovo shares Hit Over 4-Month Low , Fell As Much As 6.3 Percent To HK$6.26

Posted on Jun 25 2012 - 8:32am by Editorial Staff

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.

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