Lenovo has warned investors prices for its laptops and PCs could rise in the very near future due to recent US tariffs.
Lenovo Chairman Yang Yuanqing warned of price hikes during an earnings call on Thursday, suggesting they could apply to the company’s PCs, laptops and mobile phones.
The latter don’t tend to appear in the UK so will be of less concern, but with Back to School 2019 now in full swing it could be a problem for student buyers looking for a bargain laptop.
Yang didn’t reveal how much the products prices. A Lenovo representative told Trusted Reviews the company doesn’t have information on how the statement will impact specific markets at the moment.
The US is set to implement a 10% tariff against desktop PCs made in China in September. The tariff will extend to laptops and tablets in December. Lenovo highlighted the tariff key issue in its quarterly financial statement.
“There is a complexity of macro risks arising from ongoing trade negotiations, import tariff changes implemented by countries and challenges alongside geopolitical uncertainties. The second calendar quarter data releases have pointed to slowdowns of specific economies,” read the statement.
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Lenovo is one of may companies to be hit by recent US policy. The US White House issued an Executive Order against telecoms giant and Huawei P30 Pro maker Huawei in May. The order forced Google, Microsoft, Intel, ARM and numerous other companies to diminish ties with Huawei.
It crucially forced Google to suspend Huawei’s Android license, leaving it unclear if future Huawei phones will be able to access key services, such as the Play Store. The firm released its own Huawei HarmonyOS last week in reaction to the ban.
Apple has also been hit by the tit-for-tat US-China trade battle. The iPhone maker has been forced to make numerous exemption requests for parts made in China used in popular products, such as the new Mac Pro. The US government has denied many of them.