Restructuring, buys take toll on Lenovo

Technology giant reports its first loss in six years

China's technology giant Lenovo Group reported its first loss in six years which it blamed on the cost of previous acquisitions and restructuring, as well as the declining sales of smartphones and personal computers.

According to its annual fiscal report released on Thursday, the Hong Kong-listed technology company registered a net loss of $128 million for the fiscal year ended March. Only one year earlier, Lenovo reported a profit of $829 million.