Thursday, August 13, 2015

Lenovo Suffers a 9% Slide due to Crashing Motorola Smartphone Sales - Patently Apple

More Apple/Samsung competitive collateral damage
"China's Lenovo Group shares slid nearly 9 percent on Thursday after it said its quarterly net profit was halved as its mobile division with Motorola handsets lost nearly $300 million. Lenovo plans to cut about 3,200 non-manufacturing jobs with a one-time cost of $600 million.

 Lenovo's Chief Executive Yang Yuanqing warned that the company was facing its "toughest market environment in recent years," referring to the difficulty in selling handsets combined with a continuously shrinking global market for PCs."
Lenovo Suffers a 9% Slide due to Crashing Motorola Smartphone Sales - Patently Apple
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