(MENAFN) Lenovo Group, the world's biggest personal computer (PC) maker, is letting go a total of 3,200 employees as a result for the significant profit drop in second quarter of this year.
The company's profits crashed 51 percent to USD105 million for the April-June period, while revenues rose 3 percent to USD10.7 billion in the second quarter compared to 2014's same period.
Lenovo sold 13.5 million PCs worldwide, falling 7 percent year on year, affected by currency fluctuation and weaker demand, however, revenues from mobile sector rose 33 percent year on year to USD2.1 billion.
The firm promised to reduce expenses by about USD650 million in the second half of this fiscal year by accelerating expansion in the PC market and improving efficiency.
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