POWER-SAVING MODE. The pandemic has revived once-sluggish demand for personal computers and tablets, but Lenovo (0992.HK) may struggle to fill it. Quarterly sales at the $15 billion PC maker surged 48% from a year earlier – the highest growth in almost a decade. That helped turbocharge a sixfold increase in net income to $260 million. That looks unsustainable. Boss Yang Yuanqing reckons the global chip shortage will last another 12 to 18 months. Lenovo outsources to third-party manufacturers and has its own in-house capabilities, but an executive estimated the supply-chain snags still knocked 20% off the company’s shipments. Inventory held by Lenovo retailers in certain countries has dwindled to as little as two weeks – less than half the usual levels. Analysts polled on Refinitiv Eikon on average expect revenue to be largely flat in the current fiscal year to March. A 30% rally since the start of January has powered Lenovo shares to a near six-year high. Holding that charge may be difficult. (By Robyn Mak) On Twitter http://twitter.com/breakingviews Earlier in Capital Calls: Airbus opens the short-haul throttle read more Bill Gates under yet another spotlight read more Bayer’s weedkiller woes just won’t die read more Reclusive Australia’s reckoning draws nearer read more NetEase music spinoff hits right notes read more