Lenovo Takes $400 Million Charge on U.S. Tax Reform
PC giant Lenovo Group Ltd. said it will take a major charge related to newly overhauled U.S. tax laws, becoming one of the first Chinese companies to disclose such a move after a slew of similar announcements by global firms.
Shares of Lenovo fell 1.5% in Thursday trade after the announcement, approaching lows not seen for seven years. The company has struggled in the last two years as growth for its core PC business slows and its newer mobile products, including smartphones and tablets, fail to find a major audience.
- 1Chinese Thesis Ghostwriting Scandal Reveals Huge Gray Market
- 2 State-Owned Firms to Build $6.5 Billion Petrochemical Refinery in Alberta
- 3With Latest IPhones, Apple Again Bows to the Chinese Market
- 4China Could Ban Exports of Products Crucial to U.S. Manufacturers, Former Finance Minister Says
- 5Update: China Demands Answers for Swedish Police’s ‘Brutal’ Treatment of Tourists
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas