![\"コラム：ｉＰｈｏｎｅ米製造に疑問符、大統領の意向に反しＴシャツ生産と同じ憂き目\"\/](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/05\/QOHG4SHDFFM2HM24MH7NDJA4D4.jpg\")
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\u3000\uff15\u6708\uff12\uff17\u65e5\u3001\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\uff08\u5199\u771f\uff09\u306f\u3001\u81ea\u8eab\u306e\u95a2\u7a0e\u653f\u7b56\u306f\uff34\u30b7\u30e3\u30c4\u3084\u30b9\u30cb\u30fc\u30ab\u30fc\u3067\u306a\u304f\u3001\u3088\u308a\u6d17\u7df4\u3055\u308c\u305f\u88fd\u54c1\u306e\u7c73\u56fd\u751f\u7523\u3092\u4fc3\u9032\u3059\u308b\u3053\u3068\u304c\u76ee\u7684\u3068\u8868\u660e\u3057\u305f\u3002\u30e1\u30ea\u30fc\u30e9\u30f3\u30c9\u5dde\u306e\u30a2\u30f3\u30c9\u30ea\u30e5\u30fc\u30b9\u57fa\u5730\u3067\uff12\uff15\u65e5\u64ae\u5f71\uff08\uff12\uff10\uff12\uff15\u5e74\u3000\u30ed\u30a4\u30bf\u30fc\/Nathan Howard\uff09<\/p>\n
\uff3b\u9999\u6e2f\u3000\uff12\uff17\u65e5\u3000\u30ed\u30a4\u30bf\u30fc\u3000BREAKINGVIEWS\uff3d – \u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306f\u3001\u81ea\u8eab\u306e\u95a2\u7a0e\u653f\u7b56\u306f\uff34\u30b7\u30e3\u30c4\u3084\u30b9\u30cb\u30fc\u30ab\u30fc\u3067\u306a\u304f\u3001\u3088\u308a\u6d17\u7df4\u3055\u308c\u305f\u88fd\u54c1\u306e\u7c73\u56fd\u751f\u7523\u3092\u4fc3\u9032\u3059\u308b\u3053\u3068\u304c\u76ee\u7684\u3068\u8868\u660e\u3057\u305f\u3002\u96fb\u5b50\u6a5f\u5668\u306e\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\uff08\u4f9b\u7d66\u7db2\uff09\u3082\u6a19\u7684\u3068\u306a\u308b\u306a\u304b\u3001\u5b9f\u969b\u306b\u30b9\u30de\u30fc\u30c8\u30d5\u30a9\u30f3\uff08\u30b9\u30de\u30db\uff09\u3084\uff30\uff23\uff08\u30d1\u30bd\u30b3\u30f3\uff09\u3068\u3044\u3063\u305f\u6d88\u8cbb\u8005\u5411\u3051\u30c7\u30d0\u30a4\u30b9\u751f\u7523\u3067\u679c\u5b9f\u304c\u5f97\u3089\u308c\u308b\u304b\u306f\u7591\u554f\u3060\u3002<\/p>\n
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\u3057\u304b\u3057\u3001\u6c4e\u7528\u30c7\u30d0\u30a4\u30b9\u3092\u88fd\u9020\u3059\u308b\u4f01\u696d\u306e\u6700\u7d42\u5229\u76ca\u3092\u8003\u3048\u308b\u3068\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u305d\u306e\u5de5\u5834\u3092\uff34\u30b7\u30e3\u30c4\u3084\u9774\u3092\u4f5c\u308b\u5de5\u5834\u3088\u308a\u3082\u56fd\u5185\u306b\u7f6e\u304f\u3053\u3068\u3092\u671b\u3080\u7406\u7531\u306b\u7591\u554f\u7b26\u304c\u4ed8\u304f\u3002\u305f\u3068\u3048\u3070\u4e16\u754c\u6700\u5927\u306e\u30ce\u30fc\u30c8\uff30\uff23\u30e1\u30fc\u30ab\u30fc\u306e\u30ec\u30ce\u30dc(0992.HK), opens new tab\u3002\u540c\u793e\u304c\uff12\uff12\u65e5\u767a\u8868\u3057\u305f\u901a\u671f\u696d\u7e3e\u306f\u7d14\u5229\u76ca\u304c\uff11\uff14\u5104\u30c9\u30eb\u3067\u6700\u7d42\u5229\u76ca\u7387\u306f\u308f\u305a\u304b\uff12\uff05\u3060\u3063\u305f\u3002\u3053\u308c\u306f\u4e16\u754c\u6700\u5927\u306e\u30d6\u30e9\u30f3\u30c9\u30b9\u30dd\u30fc\u30c4\u30b7\u30e5\u30fc\u30ba\u30e1\u30fc\u30ab\u30fc\u3001\u88d5\u5143(0551.HK), opens new tab\u306e\uff14\uff0e\uff18\uff05\u3092\u4e0b\u56de\u308b\u3002\u6c4e\u7528\u30c7\u30d0\u30a4\u30b9\u306e\u751f\u7523\u30e9\u30a4\u30f3\u3092\u7c73\u56fd\u5185\u306b\u7f6e\u304f\u3053\u3068\u306f\u3001\u7d4c\u6e08\u7684\u89b3\u70b9\u3067\u3044\u3046\u3068\u3001\u96fb\u5b50\u6a5f\u5668\u306e\u30d0\u30ea\u30e5\u30fc\u30c1\u30a7\u30fc\u30f3\u3067\u7c73\u56fd\u306b\u3059\u3067\u306b\u3042\u308b\u4e0a\u6d41\u90e8\u9580\u3092\u80b2\u6210\u3059\u308b\u3053\u3068\u306b\u6bd4\u3079\u3066\u3001\u6700\u7d42\u7684\u306b\u4fa1\u5024\u304c\u4f4e\u3044\u3002\u30d3\u30b8\u30d6\u30eb\u30a2\u30eb\u30d5\u30a1\u306b\u3088\u308b\u3068\u3001\u30de\u30a4\u30af\u30ed\u30bd\u30d5\u30c8(MSFT.O), opens new tab\u3084\u30b0\u30fc\u30b0\u30eb\u306e\u89aa\u4f1a\u793e\u30a2\u30eb\u30d5\u30a1\u30d9\u30c3\u30c8(GOOGL.O), opens new tab\u306e\u6628\u5e74\u306e\u5229\u76ca\u306f\u58f2\u4e0a\u9ad8\u306e\u7d04\uff13\u5206\u306e\uff11\u3001\u30a2\u30c3\u30d7\u30eb(AAPL.O), opens new tab\u306f\uff12\uff15\uff05\u3060\u3063\u305f\u3002\u3053\u308c\u306b\u5bfe\u3057\u3001\u30a2\u30c3\u30d7\u30eb\u306e\u300c\uff49\uff30\uff48\uff4f\uff4e\uff45\u300d\u3084\u300c\uff21\uff49\uff52\uff30\uff4f\uff44\uff53\u300d\u3092\u53d7\u8a17\u751f\u7523\u3059\u308b\u4e2d\u56fd\u306e\u30b4\u30a2\u30c6\u30c3\u30af\uff08\u6b4c\u723e\uff09(002241.SZ), opens new tab\u3084\u7acb\u8a0a\u7cbe\u5bc6\u5de5\u696d(002475.SZ), opens new tab\u306f\uff15\uff05\u672a\u6e80\u306e\u7d14\u5229\u76ca\u7387\u3067\u3084\u308a\u304f\u308a\u3057\u3066\u3044\u308b\u3002<\/p>\n
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\u30c8\u30e9\u30f3\u30d7\u6c0f\u306f\u3001\u30c7\u30d0\u30a4\u30b9\u3092\u30b9\u30cb\u30fc\u30ab\u30fc\u3068\u4e00\u7dd2\u306b\u5206\u985e\u3057\u305f\u65b9\u304c\u5f97\u7b56\u3060\u308d\u3046\u3002<\/p>\n
![\"Chart](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/05\/1748415274_281_chart.png\")
Chart shows Lenovo reported a net margin of 2% for the financial year 2024, similar to other manufacturers but lower than Apple, Alphabet and Microsoft.<\/p>\n
\u25cf\u80cc\u666f\u3068\u306a\u308b\u30cb\u30e5\u30fc\u30b9<\/p>\n
\uff0a\u30c8\u30e9\u30f3\u30d7\u6c0f\u300c\uff34\u30b7\u30e3\u30c4\u3067\u306f\u306a\u304f\u6226\u8eca\u3064\u304f\u308a\u305f\u3044\u300d\u3001\u95a2\u7a0e\u306e\u76ee\u7684\u8aac\u660e \u3082\u3063\u3068\u898b\u308b \uff0a\u4e2d\u56fd\u30ec\u30ce\u30dc\u30011\u25003\u6708\u306f64\uff05\u6e1b\u76ca\u3000\u5e02\u5834\u4e88\u60f3\u4e0b\u56de\u308b \u3082\u3063\u3068\u898b\u308b \uff08\u7b46\u8005\u306f\u300cReuters Breakingviews\u300d\u306e\u30b3\u30e9\u30e0\u30cb\u30b9\u30c8\u3067\u3059\u3002\u672c\u30b3\u30e9\u30e0\u306f\u7b46\u8005\u306e\u500b\u4eba\u7684\u898b\u89e3\u306b\u57fa\u3065\u3044\u3066\u66f8\u304b\u308c\u3066\u3044\u307e\u3059\uff09<\/p>\n
\u79c1\u305f\u3061\u306e\u884c\u52d5\u898f\u7bc4\uff1a\u30c8\u30e0\u30bd\u30f3\u30fb\u30ed\u30a4\u30bf\u30fc\u300c\u4fe1\u983c\u306e\u539f\u5247\u300d, opens new tab<\/p>\n
\u7b46\u8005\u306f\u300cReuters Breakingviews\u300d\u306e\u30b3\u30e9\u30e0\u30cb\u30b9\u30c8\u3067\u3059\u3002\u672c\u30b3\u30e9\u30e0\u306f\u7b46\u8005\u306e\u500b\u4eba\u7684\u898b\u89e3\u306b\u57fa\u3065\u3044\u3066\u66f8\u304b\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n
![](\"https:\/\/www.wacoca.com\/news\/wp-content\/uploads\/2025\/05\/https:\/\/assets-us-main.prod.global.a201836.reutersmedia.net\/profile-pic-public\/Katrina-Hamlin.jpg\"\/)
<\/p>\n
Katrina Hamlin is global production editor, based in Hong Kong. She is also a columnist, writing on topics including autos and electric vehicles, as well as the gambling industry in Macau and Asia. Before joining Reuters in 2012, Katrina was deputy managing editor of Shanghai Business Review magazine. She graduated from the University of Oxford with an MA in Classics, and earned a Masters of Journalism with distinction from the University of Hong Kong.<\/p>\n","protected":false},"excerpt":{"rendered":"
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