Company blames financial loss on weak Chinese demand for PCs Lenovo Group president and CEO William Amelio resigned Wednesday, after the company posted a $97 million loss amid a sharp drop in sales during the last quarter of 2008.Lenovo chairman Yang Yuanqing will replace Amelio, the company said in a filing with the Hong Kong stock exchange.[ Discover the key Mac and Apple tech trends for business users. Read InfoWorld’s Enterprise Mac blog and newsletter. ] Lenovo blamed its financial loss on weak Chinese demand for PCs.“The Group’s results were impacted principally by slowdown of the Chinese PC market in which it has significant market share; and demand reduction in the worldwide commercial PC segment,” the company said in a separate filing.The company reported a quarterly loss of $97 million on revenue of $3.6 billion. By comparison, Lenovo reported a profit of $173 million on revenue of $4.5 billion in the same time period a year earlier. Looking ahead, Lenovo said it expects 2009 to be a difficult year.“The Group expects the next several quarters will remain very challenging for Lenovo and the rest of the PC industry,” the filing said. Technology Industry