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By Gerry Shih BEIJING (Reuters) – China's Lenovo Group Ltd will lay off 10 percent of white-collar staff after sales of Motorola handsets fell by a third, raising doubts over the personal computer giant's bet that a money-losing brand it bought for nearly $3 billion will help it become a global smartphone leader. Lenovo, which uses the U.S. dollar in operations rather than the recently devalued Chinese yuan, said it plans to cut about 3,200 non-manufacturing jobs with a one-time cost of $600 million. Beijing-based Lenovo said the restructuring would yield savings of about $1.35 billion on an annual basis.

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By Noel Randewich and Astrid Wendlandt SAN FRANCISCO/PARIS (Reuters) – Customers preordering Apple Inc's smartwatch on Friday will have to wait at least a month for delivery, a sign of strong early demand for company chief Tim Cook's first new major product. People flocked to Apple's stores around the world to get a close-up look at the Apple Watch, the tech company's foray into the personal luxury goods market, with Apple predicting demand would exceed supply at product launch. “We view this as an indication of solid demand paired with very limited supply,” Piper Jaffray analyst Gene Munster wrote in a note to clients. “We continue to expect modest sales in the June quarter as demand ramps over time.” A key factor in the watch's success will be demand once an initial wave of interest from Apple enthusiasts subsides.