Shares in China-based PC company Lenovo have fallen sharply during the past few weeks. Lenovo is, by some measures, the number two manufacturer of personal computers. It competes globally with Hewlett-Packard (NYSE: HPQ) and Dell (NASDAQ: DELL). All three of their stocks have sold off rapidly because of worry that smartphone and tablet sales will make PCs obsolete among some consumers.
The tumble in Lenovo shares signals that the slowdown has reached Asia, which is its primary market. Dell and HP earnings already have shown how significant demand trouble is in the United States. And none of the three companies can count on any sales help from Europe.
Douglas A. McIntyre
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