![]() Zarek pointed to Intel’s plan to bolster its manufacturing presence in the U.S. Resiliency and diversity of supply are two critical areas that need to be dealt with.” (Supply chain issues) are happening at an ecosystem level which means our industry will need to change its operating model. This will continue to be an issue for the foreseeable future. We are in a unique period when demand continues to be healthy yet we are still plagued by supply chain issues. “The industry is being held back by both macroeconomic and political issues in addition to tech industry challenges. ![]() Harry Zarek, president of Richmond Hill, Ontario-based Compugen, called Lenovo’s results “impressive” but said it’s time for change in the industry. last month said it would take as much as an $8 billion hit after getting slammed by supply chain woes because of China’s COVID-19 lockdowns. The PC market overall showed a cooldown, specifically in the consumer PC market with global shipments falling by 5.1 percent after two years of record-breaking PC sales. While still profitable, the company’s quarterly shipment growth slowed in the quarter ended March 31, dropping year over year by 9.2 percent, according to research firm IDC. The Hong Kong-based tech giant netted income of $2 billion for its most recent fiscal year - which ended March 31 - up 72 percent from the same period the year before, with revenue growing by $10 billion for the second year in a row to over $71 billion. ![]() Still, even with economic headwinds bearing down on the tech industry, Lenovo continued its stretch of record-breaking financial results. “Specifically in this quarter, the manufacturing shutdowns will impact the total shipments in basically everywhere, particularly in the People’s Republic of China.” “Due to macroeconomic headwinds, the shortage is weighing significantly in the short term,” Lenovo Group executive vice president Luca Rossi told analysts and media during a post-earnings call Thursday. Despite a strong fiscal year for global PC leader Lenovo, the company says shipments would slow in the short term as China’s COVID-19 lockdowns in March and April wreaked havoc on an already hobbled supply chain.
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