0401 GMT - Lenovo Group's fiscal 3Q results were likely a solid beat, supported by better-than-expected PC and smartphone shipments, UOB Kay Hian analysts say in a research note. U.S. tariffs remain a risk, but all PC players will be affected, as most brands still heavily rely on assembly capacity in China, they say. The analysts estimate that Lenovo could face a 10%-15% impact on its bottom line for every additional 10% tariff on Chinese goods. "Nevertheless, if every player ends up being impacted, it is likely that the costs will be transferred to the customers, and could cause a slight impact to U.S. PC shipment," they say. PC brands will likely expand their U.S. production capacity, though it would take time, they add. Shares are up 2.8% at HK$12.50. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 23:01 ET (04:01 GMT)
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