Shares in Lenovo, the Chinese electronics manufacturer, fell 5.1 per cent in Hong Kong trading, the biggest decline in nine months, after the company announced lower than expected revenue growth.
Lenovo said it has shipped a record 35m smartphones, computers and tablet devices, and saw a 19 per cent increase in quarterly net profits. “Lenovo had another strong quarter that saw excellent market share gains and profit expansion,” said Mr Yang in a statement accompanying the results.
But the stock market mainly took note of 7 per cent growth in revenues, the lowest in six quarters, which may herald a cooling in Lenovo’s home market of China.
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