UPDATE 1-Dell launches low-cost PC in China
(Adds background on Dell results, China market from para 3)
SHANGHAI, March 21 (Reuters) - Dell Inc. (DELL.O), the world's second-largest personal computer maker, unveiled a low-cost PC on Wednesday for China, its fastest-growing market.
The PC is priced from 2,599 yuan to 3,999 yuan (about $335 to $520), the company said in a statement.
Earlier this month, Dell reported a sharp drop in quarterly profit while revenue fell short of Wall Street expectations, adding that it foresaw pressure on growth and profit margins in the next several quarters as it spends money to revamp its business.
The company had lost market share to global industry leader Hewlett-Packard Co. (HPQ.N) during the fourth quarter and in January. In China, the world's second-largest PC market, Dell ranks third behind homegrown powerhouse Lenovo Group Ltd. (0992.HK) and Founder Technology (600601.SS).
York Li, Dell's top manufacturing executive for China, told Reuters last month that the company expected production in China for domestic sales to keep growing at about 30 percent in the short term, meaning the PC giant might add another factory in the country in three to four years.
($1=7.737 Yuan)
((Reporting by Sophie Taylor, writing by Edmund Klamann, editing by Ken Wills; sophie.taylor@reuters.com; Reuters Messaging: sophie.taylor.reuters.com@reuters.net; +86-21-6104-1791)) Keywords: DELL CHINA/
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