China’s largest PC maker Lenovo Group posted its third consecutive quarterly loss, as improved domestic sales failed to counteract slumping demand overseas, Bloomberg reported. The company posted US$16 million in losses for its first fiscal quarter ended June 30, compared with a US$110.5 million profit a year earlier. Revenues fell to US$3.46 billion from US$4.21 billion a year ago, with China sales rising to US$1.67 billion from US$1.66 billion. The PC maker has returned its focus to its home market of mainland China in response to the global financial crisis, and has shed most of its employees based outside China, the firm’s Chairman Liu Chuanzhi said. The company will also boost distribution networks in rural areas in order to benefit from government subsidies to farmers for the purchase of electronics.
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