Lenovo is successfully executing its business realignment plan and is on track to deliver US$ 650 million in the second half of the year and US$ 1.35 billion annually As announced in Q1 earnings report, Lenovo incurred US$599 million in restructuring costs and a US$324 million one-time charge to clear smartphone inventory in Q2 Hong Kong Financial Reporting Standards pre-tax loss** of US$842 million driven by restructuring costs and one time charges Lenovo Group today announced results for its second fiscal quarter ended September 30, 2015. Quarterly revenue was US$12.2 billion, a 16 percent year-over-year increase or 23 percent year-over-year in constant currency.