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Indian models pose with the flexible YOGA range of Lenovo laptops during their launch in Bangalore last year.AFP |
Technology giant reports its first loss in six years
China’s technology giant Lenovo Group reported its first loss in six years which it blamed on the cost of previous acquisitions and restructuring, as well as the declining sales of smartphones and personal computers.
According to its annual fiscal report released on Thursday, the Hong Kong-listed technology company registered a net loss of $128 million for the fiscal year ended March. Only one year earlier, Lenovo reported a profit of $829 million.
Lenovo’s annual sales revenue for fiscal year 2015 also dropped 3 percent to $44.9 billion. Excluding the impact …
Read the full article at: http://www.chinadaily.com.cn/business/tech/2016-05/27/content_25485830.htm