Lenovo Group's quarterly profit fell 78%, and the company said it will launch a restructuring with possible job cuts.
Profit for the three months ended Sept. 30 was US$23 million, compared with $105 million, in the same period last year. Lenovo reported a 0.4% rise in total global sales to $4.33 billion.
President and CEO William J. Amelio said the restructuring might include job cuts but no details were decided. He said it would cost $75 million to $100 million, including a $24 million charge recorded in the past quarter.
Sales in Greater China — which includes Hong Kong and Taiwan — rose 11% to $1.9 billion, the company said. But elsewhere, shipments in the Americas were off 4% and in the Asia-Pacific outside China down 10%.
to Daily News