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Lenovo bullish on laptop sales
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Lenovo Group Ltd, Asia's biggest personal-computer maker, is "insulated" against a regional slowdown in technology spending because of its geographic scope, said Chief Executive Officer William Amelio.


"We're pretty bullish on what's happening in front of us," Amelio said in an interview with Bloomberg Television from the World Economic Forum in Davos, Switzerland. The Chinese company has its corporate headquarters in Raleigh, North Carolina.


Amelio is seeking to boost sales of laptops to consumers, a market that's outpacing corporate PC shipments. The company also plans to improve its profit margins by making its supply chain more efficient. Amelio declined to say how economic conditions might affect earnings.


Lenovo climbed the most in three months in Hong Kong trading on Friday after Daiwa Institute of Research raised its rating to "outperform" from "hold." Demand in China will help the company grow faster than the rest of the market, analyst Joseph Ho said.


Lenovo shares advanced 15 percent to HK$4.75, the biggest gain since October 2.


The company may ship 15 percent more PCs in the year ending March 2009, Ho said.


(Shanghai Daily January 28, 2008)


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