China’s Lenovo tumbled as much as 20% on Friday after a Bloomberg report showed that Chinese spies inserted computer chips in some U.S. companies’ system.
Bloomberg Businessweek cited 17 undisclosed sources and reported that Chinese spies placed computer chips inside equipment used by about 30 computers and a few U.S. government agencies, allegedly giving Beijing access to internal networks.
Share prices of the Chinese telecommunications goods maker plunged following the report, even after Apple (NASDAQ:AAPL) and Amazon.com (NASDAQ:AMZN) denied the report. Lenovo said in a statement that SuperMicro, cited in the Bloomberg report as the supplier of the chips, is not a supplier to the company.
Lenovo’s shares further dropped 1.58% on Monday to HK$4.98 by 1:40AM ET (05:40 GMT).
