Lenovo warns of loss in third quarter, shares tumble (Market Watch)

Shares of Lenovo Group plunged as much as 18% in Hong Kong trading Thursday after the maker of ThinkPad computers said it expects to post a “material loss” for the three months ended Dec. 31 and plans to layoff 11% of its global workforce, or about 2,500 workers, because of a sharp drop in consumer demand.

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