Lenovo today shared the company's financial report for the second quarter of the fiscal year, revealing a loss of $784 million. The Chinese company has struggled in 2015 with a decline in PC sales, restructuring efforts, as well as taking a brand image hit with bloatware and malware issues. On the flip side, revenue was up 16% year-on-year to $12.2 billion and Lenovo managed to grow its PC market share to 21.2%.
It's noted in the report that Lenovo continues on the path to execute applied business realignment plans to deliver $650 million in the second half of the fiscal year. Restructuring costs were also highlighted in the Q1 earnings report, alongside a $324 million write-off to clear smartphone inventory. For its PC division, Lenovo bagged $8.1 billion (down 17% YoY), while its mobile group managed to accumulate $2.7 billion (up 104% YoY).
With cost reductions in place, we'll have to wait and see how Motorola and its parent company fares in Q3 of the 2015-2016 fiscal year.
Source: Lenovo
