"The 20% tariffs announced in March were implemented suddenly and left us no time to prepare. It had a significant impact on our numbers in the last quarter - it's not a small number."
"The combination of our global manufacturing footprint gives the Group maximum flexibility and resilience to navigate through uncertainties and be more adaptive to the market conditions."
Lenovo experienced a 64% profit decline in the fourth quarter, attributed primarily to ongoing US tariffs and a downturn in the PC sales market. Despite the reduction of some tariffs, a 20% levy remained in place, affecting pricing and future profitability. CEO Yang Yuanqing highlighted macroeconomic uncertainties as a significant concern, suggesting that the company's long-term performance is closely tied to the global economy. However, Lenovo's established manufacturing capabilities across multiple markets provide a degree of flexibility in response to these challenges.
Read at IT Pro
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