Lenovo computes hefty losses, as sluggish PCs hurt

China's giant personal computer maker Lenovo Group Ltd posted a quarterly loss on Friday - blaming higher costs and sluggish sales in the personal computer and smartphone market.

The $72 million slide into the red for the three months ended June was its first quarterly loss since September 2015, and compared with a profit of $173 million for the same period last year.

The company said supply constraints for key components in the sector, as well as cost increases, would continue to bring short-term challenges in its business environment.