Lenovo accounts record quarter sales amid strong PC, laptop demand
By MYBRANDBOOK
In a statement Lenovo confirms that the company leads the global PC market with #1 market share of 23.6 per cent. Lenovo’s Intelligent Devices Group (IDG) continues to lead the growth with all-time record revenue for the PC and Smart Devices Group (PCSD) of $11.5 billion, up 8 per cent year-on-year.
Yuanqing Yang, Lenovo Chairman and CEO, said, “Our record results this quarter reflect our ongoing commitment to meeting the needs of the rapidly growing work-, learn-and play-from-home economy. All of our core businesses delivered year-on-year growth, while our Software and Services revenue grew to a new record. As the world continues to adjust to the ‘new normal’, we are confident in the long-term growth potential of both devices and cloud infrastructure.”
The second business unit, the Mobile Business Group (MBG), had revenue growth of 39 per cent quarter-to-quarter and returned to year-on-year growth, continuing the strong recovery from the impact of Covid-19.
The quarter also saw key innovation milestones with the launch of the razr 5G foldable smartphone and the company’s first dedicated gaming phone under the Lenovo Legion brand.
The Data Center Group (DCG) saw continued growth. Revenue grew 11 per cent year-on-year to $1.48 billion, with improved profitability.
The company said, “The Cloud Service Provider segment continued to grow, with revenue increasing 34 per cent year-on-year, with strong growth across all geographies.”
Lenovo said it sees a positive outlook for the second half of the year, with the new global norm of work, learn and play from home driving long-term growth trends in device demand and cloud/infrastructure requirements.
The Group expected the total PC market to grow well beyond current analyst forecasts to closer to 300 million units in calendar year 2020, around 25 million more than the total available market last year.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
BPE INDIA PVT. LTD.
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
DIGISOL SYSTEMS LTD.
NETWEB TECHNOLOGIES INDIA LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SANTHOSH VISWANATHAN
Santhosh Viswanathan is the the Vice President and Managing Director f...
ICONS OF INDIA : SHAILENDER KUMAR
Shailender Kumar is senior vice president and regional managing direct...
ICONS OF INDIA : VIJAY SHEKHAR SHARMA
Vijay Shekhar Sharma is an Indian technology entrepreneur and multimil...
PARTNER SPEAKERS
PSU
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
NIC - National Informatics Centre
NIC serves as the primary IT solutions provider for the government of ...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
