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11:55 AM While Dell (DELL -17.5%) crashes in part due to the weak PC sales mentioned in its FQ1 report, Chinese rival Lenovo (LNVGY.PK) has reported another strong quarter. FQ4 sales rose 54% Y/Y to $7.5B, and PC shipments grew 44%. Moreover, Lenovo's PC sales within developed markets surged 85% to $3.4B, the result of both an acquisition and share gains. Dell admitted on its earnings call that in addition to tablet cannibalization, price competition was hurting its PC sales.
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