China's Lenovo considers restructuring: report
SHANGHAI (Reuters) - China's Lenovo Group (0992.HK), the world's No.4 personal computer maker, is considering a restructuring because of tough economic conditions, China Business News reported on Wednesday.
The influential business newspaper quoted unnamed sources as saying Lenovo might merge its Greater China and Russia operations with its Asia Pacific operations.
David Miller, president for the Asia Pacific region, is expected to resign and Chen Shaopeng, now president of the Greater China region, would head the merged operations, the newspaper said.
A Lenovo spokesman in Beijing said he would not comment on media speculation.
The newspaper quoted Chen as saying there was no plan to lay off workers in the Greater China area. He did not comment directly on the possibility of a restructuring.
Lenovo posted a 78 percent plunge in net profit to $23.44 million for the quarter ended in September.
(Reporting by Fang Yan; Editing by Jacqueline Wong)
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