Lenovo makes a loss

Lenovo shopfrontChinese computer giant Lenovo said it had made a loss of $714 million but its revenues for its second quarter grew by 16 percent to $12.2 billion.

Lenovo has seen the PC market continue to decline – it is the world’s biggest PC vendor right now. But it’s also seen a fall in sales of smartphones and tablets.

The second quarter included charges of neatly a billion as it laid off employees and emptied warehouses of smartphones.

Lenovo said earlier this year that it would make 3,200 people redundant to save costs.

In a statement, Lenovo said that global markets and currency fluctuations had made the period “challenging”.