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Lenovo Posts Narrower-Than-Expected Loss Amid Phone Restructure

  • China revenue drops 12 percent amid slumping economic growth
  • Focus changed after `fierce' competition in China: Yang
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Lenovo Group Ltd. posted a second-quarter loss that was narrower than estimates, boosted by stronger sales growth and an improvement in its smartphone business. Shares rose.

Net loss for the fiscal second-quarter ended September was $714 million compared with the $803 million average expected by analysts. Sales climbed 16 percent and also beat estimates.