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Lenovo brings in new management as sales fall 8%

2016-11-03 10:09:00| Telecompaper Headlines

(Telecompaper) Lenovo reported a return to profit in its fiscal second quarter to September, but sales were still down 8 percent to USD 11.2 billion due to the weak computer, server and smartphone markets. The company's net result moved to a profit of USD 157 million from a loss of USD 714 million a year ago thanks to cost-cutting efforts and fewer restructuring charges. Gross profit was up 2 percent to USD 1.2 billion. The company also announced new management appointment, bringing in executives from Intel, Alcatel-Lucent and Microsoft.

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