Lenovo financials miss targets; job cuts planned
by from Techreport on (#H9GQ)
Lenovo has announced its Q2 financial results, and while the company posted a profit, it's looking to cut costs. The world's largest PC maker reported net income of $105 million on $10.7 billion in revenues, which represents a 51% decline year-over-year. According to Reuters, revenues missed analyst targets by $600 million.
The company reported that its biggest challenges came from the PC market, where Gartner and IDC both predicted fewer units would be sold this year, and in the tablet market, where Lenovo is a relatively small player ...