Lenovo posts first loss in 6 years as revamp hurts

Tech firm hopes to save $650m in costs in second half of the fiscal year, says CEO

Lenovo Group Ltd, the world's biggest personal computer maker, reported a net loss of $714 million on Thursday for the fiscal second quarter that ended in September, due to higher restructuring costs.

Though the loss was the first for the company in the past six years, it was still narrower than the $803 million estimated by analysts.