Lenovo posts results for its first fiscal quarter, and announces plans to restructure its business. Since it owns Motorola, the company plans to put Motorola in charge of mobile. This also involves laying off about 5% of Lenovo's 60,000 staff, which results in about 3,200 people.

The layoffs will save the company up to $640 million by the end of the year. Another measure is redesigning its smartphone portfolio, bringing it down to just a few signature models. The international market will also play a much bigger role in the future. If we have to guess, first Lenovo handsets designed by Motorola will be released by the end of 2016 or maybe in early 2017.