Bloomberg News

Lenovo Denies Issuing New Shipment Growth Guidance to Suppliers

June 22, 2012

Lenovo Group Ltd. (992), the world’s second-biggest maker of personal-computers, said it didn’t issue new guidance to its partners about growth, after Taiwan’s China Times newspaper reported the company offered updated estimates to its suppliers.

“We continue to be confident that we will outgrow the market worldwide,” Lenovo said in an e-mailed statement yesterday. No new guidance was provided to “suppliers or manufacturing partners,” it said.

Lenovo told suppliers its annual shipments growth this year will be between 13 percent and 15 percent, compared with an earlier guidance of as much as 25 percent, China Times reported yesterday, without saying where it got the information. The Chinese computer maker’s shares fell the most in more than two years in Hong Kong trading yesterday.

Lenovo kept its guidance for sales growth of between 5 percent and 10 percent in the quarter ending June 30, compared with the previous three months, Nomura Holdings Inc. analyst Eve Jung wrote in a report yesterday, citing management at the computer maker. Growth in the September quarter “remains on track,” according to Jung.

The Chinese company fell 1.3 percent to HK$6.68 today, compared with a 1.4 percent decline in Hong Kong’s benchmark Hang Seng Index.

To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net


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