Lenovo lost money last quarter despite strong revenue
by from Techreport on (#TFR0)
Last time Lenovo released quarterly financial results, the world's biggest PC maker missed targets and planned job cuts. In the second quarter (PDF) of its 2015-2016 fiscal year, the company is still on stormy seas. Revenue grew 16% year-over-year to $12.2 billion, but those gains didn't stop Lenovo from losing $714 million. That loss is due in part to one-time charges related to the restructuring plan announced last quarter, as well as a $324 million write-down of unsold smartphone inventory.
Lenovo continues to solidify its position as the number-one PC maker in the world. It says its products now account for 21.2% of all ...