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Companies

Lenovo struggles to find growth engine beyond PCs

Former tech high-flier falls into red despite Q4 improvement

Yang Yuanqing, Lenovo chairman and CEO, at the Mobile World Congress in Barcelona, Spain, on February 26, 2018.   © Reuters

HONG KONG -- Lenovo Group, once China's most successful high-tech company, is struggling to find a second growth engine beyond personal computers, after fruitless efforts in the highly contested smartphone market.

In results for the full year ended in March, a loss in mobile business and a one-time charge of $400 million incurred as a result of the U.S tax reform pushed Lenovo into the red. It reported a net loss of $189 million, down from a profit of $535 million a year ago.

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