Lenovo announces loss, CEO resigns

Lenovo Group (LNVGY.PK) said September 3, that it will consider acquisitions to drive growth and build competence, hinting that it would acquire a smartphone maker as it expands in mobile devices. In my opinion, Lenovo and Research In Motion (RIMM) would be a perfect match.

HONG KONG (Reuters) - Lenovo Group , the world's fourth-largest PC firm, posted a bigger-than-expected quarterly loss, its first in nearly three years, as weak demand and tough competition crushed earnings, and its CEO resigned.

By Helix Investment Management:Anytime a CEO of a company resigns, investors must evaluate what effect it will have on the company's future prospects. We believe that the most recent CEO change at Urban Outfitters (URBN) gives investors the opportunity to establish long-term positions in this company at a depressed price, as we have done.

Lenovo Group is reporting a loss in the fiscal fourth quarter due to falling demand for its computers. The Beijing-based computer maker reported a loss of $264 million, or $2.98 per share, for the quarter that ended March 31.

BEIJING (AP) -- Shares of Lenovo Group tumbled Thursday after the world's fourth-largest computer maker warned it expects a loss for its latest quarter and will lay off 11 percent of its workforce and cut executive pay....

BEIJING (AP) -- Lenovo Group's quarterly profit dived 78 percent as the global economic slowdown battered sales, and the company, the world's fourth-largest PC maker, said it will launch a restructuring with possible job cuts....