Chinese computer maker Lenovo has announced its financial results for its third fiscal quarter of 2008/2009—and the news brings both a loss and a management shakeup. From October through December of 2008, the company posted a loss of $96.7 million, which was greater than even the highest market estimates for the company’s quarterly loss. Lenovo also revealed that desktop sales were down by about 20 percent year-on-year and the company’s margin was hard-hit by currency fluctuations and the computing market’s shift towards low-cost, entry-level PCs. Notebook sales were up 3 percent compared to the same quarter a year ago. The company also announced that CEO William Amelio is stepping down, to be replaced by current Lenovo chairman Yang Yuanqing.
