Lenovo Group (0992.HK) acquired IBM personal computer business has not passed the US government's review. Yesterday (15th) has passed unfavorable news, IBM large customers General Electric (GE) intend to change Dell ordering computers. The news triggered Lenovo Group's share price that fell nearly 3% yesterday, and closed down 1.09%.
According to the US "Business Week" quoted, the general electrical electricity of IBM big customers has been intended to buy desktop computers and laptops to Dell at the end of 2004 because Dell's products are cheap. However, the report also pointed out that after the Lenovo Group acquired IBM personal computer business, IBM has not had a lot of customer loss. IBM spokesperson refused to comment on the report when I accepted "Business Week", and he said that IBM's policy is not allowed to disclose the transaction of individual companies to the outside world, but he emphasizes more than 90% of customers to acquire IBM personal computer business to Lenovo Group. Transactions represent support, including AVNET, MOEN, and NationalSemiconductor. IBM also pointed out that the company is fully equipped with a survey of foreign investment committees (CF-US) and confident by review.
The reporter called Lenovo Group, Dell Company asked, but the Lenovo Group responded that this is not understood; and as of the reporter, Dell has not responded. In fact, after Lenovo Group publicly acquired IBM personal computer business, the outside world has been guessing and worried about the original IBM customers will lose; after the transaction is announced, the Lenovo Group's share price has nearly 20%.
Huaqi Mei Bang's research report announced yesterday pointed out that Lenovo Group has to retain IBM's current customers in difficult, especially IBM large-scale business customers; Lenovo Group will have to lose about half of IBM. The bank considers that the personal computer market is currently facing large restructuring, including HP management transition and Lenovo / IBM business integration, which is likely to provide a more stable large equipment manufacturer such as Dell, Acer provides a chance to seize additional market share.
Citigroup also pointed out that the latest performance of Lenovo Group has shown that the Chinese mainland's personal computer market is fierce competition, and even competition has deteriorated; if the Lenovo Group can successfully integrate IBM personal computer business, it will help it better utilize planning benefits to ensure The development of itself. However, Citi believes that the acquisition of IBM's personal computer business is only helpful to the turnover of Lenovo Group. It has little impact on net profit; because IBM's personal computer business gross profit margin is almost zero, while Lenovo is 4%.
