Lenovo Posts Surprise Loss as PC Sales Crater, Costs Climb
(WorldNews Business)

(Bloomberg) — Lenovo Group Ltd. posted a surprise quarterly loss after losing its grip on the global personal computer market, while its smartphone unit continues to bleed money. China´s largest PC maker reported a net loss of $72 million in the three months ended June — its first in six quarters and well below projections for income of $32.9 million. That drove its stock down as much as as 4.2 percent in Hong Kong to its lowest intraday level in more than a year. Lenovo lost its position as the world´s top PC maker as HP Inc. and...