Lenovo posts record revenue in third quarter
Lenovo Group Ltd posted net profit growth of 53.4 percent and record revenue in the third quarter, thanks to booming demand for its digital transformation services, the world’s biggest computer vendor said on Tuesday.
The Hong Kong-listed company’s net profit in the quarter was 2.15 billion yuan (US$316 million). Revenue was 100.5 billion yuan, a 7.4 percent growth from a year ago. It is the first time Lenovo has achieved revenue surpassing 100 billion yuan in a quarter.
The performance came from a rise in the business of personal computers and smart devices, along with rapidly growing data center and digital services sectors.
The pandemic boosted demand for smart devices and digital transformation services, such as remote work and cloud services, analysts said.
Lenovo is speeding up its business and strategy upgrade for intelligent infrastructure construction, covering expansion in 5G, artificial intelligence, cloud and the Internet of Things.
It has invested heavily in 5G and cloud and developed an industrial robot last month.