Lenovo Posts Surprise Loss as PC Sales Crater, Costs Climb
- Component costs, supply constraints weigh on profitability
- Manufacturer says market conditions to remain challenging
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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.