Lenovo Group has announced record fourth-quarter and fiscal-year earnings, with exponential growth in all areas of the business.
Group revenue increased by 48 percent year over year to US$15.6 billion in the fourth quarter. Profit grew at its fastest rate in two years.
The Q4 results brought the year to a conclusion on a high note, with annual Group revenue surpassing US$60 billion.
The company claims that its continued diversification is fueled by its 3S corporate strategy, which promises to produce goods and services based on smart IoT, smart infrastructure, and smart vertical solutions.
“We delivered our fastest-growing quarter in nearly a decade last quarter, and we completed the fiscal year with a new milestone of passing US$60 billion in revenue and considerable profit growth to a new record. Lenovo Chairman and CEO Yuanqing Yang stated, “These record highs were accomplished by using our core competencies of a clear strategy, creative products, operational excellence, and a global-local model to satisfy the emerging needs in the New Normal.” In the years ahead, we will seize the enormous growth prospects generated by market trends such as information consumption upgrade, infrastructure upgrade, and application upgrade to promote long-term sustainable growth and ensure we can construct an even brighter future.”
“The worldwide PC market grew faster than projected in this difficult year, as the COVID-19 pandemic prompted many lifestyle modifications, including the one-PC-per-person trend. As a result of rapid market trends such as work-from-home, e-learning, and the e-commerce revolution, the intensity of PC product usage has increased “According to the company.
Read more on Tech Gist Africa:
Apple’s quarterly sales tops $100 billion for the first time in history
Apple overthrows Amazon as the most valuable brand in the world
Samsung has surpassed Apple in terms of global smartphone shipments