Lenovo to double research spending for the new IT infrastructure market
Lenovo Group Ltd plans to double its research spending within three years, to tap into the new IT infrastructure market valued over 1 trillion yuan (US$156 billion) in China, the company said on Wednesday.
The new IT infrastructure covers devices, edge computing, cloud computing, the Internet and artificial intelligence. It fits well with China's national strategy amid the digital transformation and surging demand for IT upgrades amid the pandemic, said Yang Yuanqing, chief executive and chairman of Lenovo.
"The next-generation IT infrastructure is always online and covering all kinds of services," Yang said during the Lenovo Tech World 2021 event.
The infrastructure and services cover computers, smartphones, data centers, cloud services, edge computing and artificial intelligence, according to HK-listed Lenovo.
Yang did not mention detailed figures for the increased spending.
In the second quarter, global PC sales jumped 12.5 percent year on year, thanks to booming demand during the pandemic. Lenovo, HP, Dell, Apple and Acer are the top five PC vendors, according to researcher Canalys.
Leaders from global IT giants like Microsoft, Intel and SAP also attended the Lenovo Tech World conference. They plan to work with Lenovo to boost China's digital transformation and support small and medium sized enterprises with the new IT infrastructure.