Apple Surpasses Lenovo Sales in China on Strength of Iphones
Apple Surpasses Lenovo Sales in China on Strength of Iphones
July 22, 2011
July 22 (Bloomberg) -- Apple Inc. may have surpassed Lenovo Group Ltd.’s revenue in China and surrounding region for the first time in at least a decade as the iPhone-maker’s surge in sales hurt growth at the biggest Chinese computer maker.
Lenovo’s combined revenue in China, Hong Kong and Taiwan last quarter lagged behind the $3.8 billion for Apple, according to four analysts surveyed by Bloomberg News. Lenovo, which acquired International Business Machines Corp.’s personal computer business in 2005, this week added two new tablets in the U.S. featuring Google Inc.’s Android software to take on Apple in its home turf.
“Apple is doing very well in China,” said Jean-Louis Lafayeedney, who rates Lenovo shares “buy” at JI Asia in Hong Kong. Apple’s growth may become a concern for Lenovo unless the Chinese company increases sales of its new smartphones and tablet computers soon, he said.
Lenovo generated $3 billion in sales from mainland China in the quarter ended June 30, according to Jenny Lai, head of Taiwan research at HSBC Holdings Plc. She had the highest of the analysts’ estimates in the Bloomberg survey.
By Yan Wong