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Lenovo says US Security Review Commission report has 'numerous inaccuracies'

HONG KONG (Nikkei Markets) -- Chinese personal-computer maker Lenovo Group said a report, posted last week on the website of the U.S.-China Economic and Security Review Commission on the U.S. supply chain's vulnerabilities from China, has "numerous inaccuracies" and that it will work with the commission and the report's author to correct them.

A report authored by third-party researcher Tara Beeny and posted on the Commission's website on April 19 named Lenovo among Chinese companies that may be pursuing the government's strategic aims in return for government support.

Government support for some companies in China "appears to include officially sanctioned or officially conducted corporate espionage designed to improve the competitiveness of Chinese firms while potentially advancing other government interests," the report said. It said Lenovo, alongwith Huawei and ZTE, was among the companies "that exhibit some of these characteristics."

In an emailed response to Nikkei Markets queries on Tuesday, Lenovo said its supply chain certification program ensures that it meets "stringent requirements in each of the over 160 countries where we operate."

Officials at ZTE and Huawei did not respond to emailed requests for comment on the report.

"We are currently reviewing the U.S.-China Economic and Security Review Commission's report and will meet directly with the Commission and its third-party researcher to correct the numerous inaccuracies in the report," the company said.

Lenovo shares fell 0.5% to HK$3.75 as of 11:46 a.m. in Hong Kong on Tuesday, poised for a third day of declines.

--Hong Kong Newsroom

--Nikkei Markets is a real-time financial news service for South East Asia's markets published by Nikkei NewsRise Asia Pte Ltd, a Nikkei and NewsRise joint venture company. Nikkei Markets provides wide companies coverage in the region, including the Nikkei's Asia300 companies.

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