The Chinese tech company posted a hefty loss in its latest financial results on Thursday. the item reported a loss attributable to shareholders of $189 million for the full year, compared to a $535 million profit the item had achieved the previous year.
Lenovo, primarily known for its personal computers, has been facing challenges to its business as the item tries to stay relevant in both the PC along with mobile industries. the item was uncrowned by HP in 2017, shipping less PCs than the U.S. company, according to market intelligence firm IDC.
Lenovo’s mobile business has also been underperforming, nevertheless Wong said the mobile unit would certainly “return to a much better financial health, I think, within the near future.” The firm sells smartphones through both its Lenovo along with Motorola brands.
Correction: that will story has been updated to correct the name of Lenovo’s chief financial officer to Wong Wai Ming along with state the company reported a loss attributable to shareholders of $189 million for the full year.