Lenovo Warns Memory Shortage Will Impact Full 2026 Year (02-12-2026)

Lenovo Group Ltd. (0992.HK) warns the memory chip shortage will last through the rest of 2026, CEO Yang Yuanqing said on February 12, 2026. The disruption follows a 21% drop in Q4 net income, sending shares down 4.7% on the day. Memory costs rose 40%–50% in the quarter, with contract prices potentially doubling in Q1. Despite a 9.6% growth in PC shipments last quarter, IDC said, AI-driven demand is squeezing components and likely to drive further price hikes. Analysts at UOB Kay Hian expect pulled-forward demand to persist into March, with Lenovo’s AI server business posting a 31% rise in $5.2B in infrastructure solutions revenue, up to a quarterly record.