Lenovo logs record quarter sales amid strong PC, laptop demand

Hong Kong, Nov 3 : Riding on the surge in demand for PCs and laptops in the remote working and learning times, Lenovo Group has announced record Group revenue of $14.5 billion in its second quarter, up 7 per cent year-on-year and with all businesses showing strong growth.
Net income was up 53 per cent (year-on-year) to reach $310 million.
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.
Lenovo’s operational capability, timely response to the work and learn from home trend and focus on high-growth and premium segments drove the record quarterly performance. Lenovo leads the global PC market with #1 market share of 23.6 per cent, the company said in a statement.
“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,” said Yuanqing Yang, Lenovo Chairman and CEO.
“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”.