February 16, 2017 / 6:59 AM / 6 months ago

Lenovo sees mobile unit turnaround by second half of next fiscal year

Lenovo smartphones are displayed during a news conference announcing the company's annual results in Hong Kong May 21, 2014.Bobby Yip/Files

HONG KONG (Reuters) - Lenovo Group Ltd Chairman Yang Yuanqing on Thursday said the company was on track to turn around its mobile phone business in the October-December quarter of 2017, or by the end of the business year through March 2018 at the latest.

Yang, speaking to Reuters after the company posted a 67 percent drop in third-quarter profit, also said he was not considering spinning off the mobile unit or privatising the group.

Reporting by Sijia Jiang; Editing by Anne Marie Roantree

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