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China’s Lenovo warns of ‘prolonged’ memory crunch, looks to AI for rebound (www.scmp.com)

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Lenovo Group, the world’s largest personal computer (PC) maker, warned of the “prolonged impact” of a global memory crunch after reporting a 21 per cent profit drop in the December quarter, while pinning hopes on a shift to artificial intelligence-powered devices to drive growth. “This structural imbalance between supply and demand [for memory chips] is not simply a short-term fluctuation,” Yang Yuanqing, chairman and CEO, said on Thursday after the earnings release. “It is likely to have a...

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