Lenovo's Intelligent Devices Group saw a 12% revenue increase, maintaining its market leadership in PCs and experiencing strong smartphone growth. The Infrastructure Solutions Group achieved break-even with a 60% revenue increase, driven by cloud services and AI server business. The Solutions and Services Group reported record revenue and high profitability, with a focus on AI-powered solutions. Lenovo's strategic partnerships and expansion in the Middle East are expected to support continued growth and profitability. The company remains optimistic about its future, emphasizing its commitment to innovation and a resilient global supply chain.
Key takeaways:
- Lenovo Group reported a 20% year-on-year revenue growth to US$18.8 billion for Q3 FY 2024/25, with net income more than doubling to US$693 million.
- The company's diversified growth engines, including the Intelligent Devices Group and Solutions and Services Group, contributed to the strong performance, driven by a hybrid-AI strategy.
- Lenovo's R&D expenses increased by nearly 14% year-on-year, focusing on AI innovations, including the launch of the world's first rollable AI laptop and handheld gaming device.
- Lenovo was named FIFA's official technology partner and received several ESG and Corporate Governance awards, highlighting its commitment to sustainability and innovation.