LENOVO
Lenovo Group (HKSE: 992) PINK SHEETS: LNVGY) today announced Group revenue in the first quarter of US$13.3 billion, up almost 7% year-on-year (up 10% year-on-year excluding currency impact). Pre-tax income grew 38% compared to the same quarter a year earlier, to US$332 million, while net income also increased by 31% year-on-year to US$213 million. Basic earnings per share for the first quarter were 1.80 US cents or 13.95 HK cents.
“Our outstanding performance last quarter proves that Lenovo has quickly regained momentum from the impact of the pandemic and is capturing the new opportunities emerging from remote working, education and accelerated digitalization,” said Yang Yuanqing, Lenovo Chairman and CEO. “While the world continues to face challenges, Lenovo is focused on delivering sustainable growth through our core businesses as well as the new services and solutions opportunities presented by our service-led intelligent transformation.”
Global economic factors
The last quarter has presented multiple industry-wide business challenges, including ongoing geo-political uncertainties and the COVID-19 pandemic. To chart a path through these challenges, Lenovo continues to leverage its core competencies of operational excellence and a ‘global sourcing, local delivery’ approach. Looking to the geo-political landscape, Lenovo continues to believe that cooperation in trade, technology and culture provides significant economic benefits to all markets and will ensure that technology can benefit and empower everyone in society.
Business Group Overview
Lenovo’s Intelligent Devices Group (IDG) continues to lead the company’s strong performance. The PC and Smart Devices Group (PCSD) , one of the two IDG business units, grew revenue by double digits year-on-year to US$10.6 billion. Pre-tax income reached US$670 million, up nearly 28% year-on-year, while industry-leading profitability improved by almost 1 point to a new record of 6.3%. The PC market significantly outperformed the industry forecast of a market decline, with Lenovo retaining its #1 leadership position in the worldwide PC Devices market (PC and Tablets). Similarly, there was strong year-on-year growth (45%) in Consumer business revenue worldwide. Driven by these successes, revenue grew 30% in EMEA and 18% in China. Volume in high-growth and premium categories such as Gaming, Thin & Light, Visuals, and Chromebooks all continued to grow at high double-digits. The worldwide e-Commerce business was a notably stellar performer, with revenue growth over 50% year-on-year.
Looking to the future, the company expects this strong PC demand will be a long-term trend. As a result, Lenovo will focus on innovative products that adapt to the new global environment, further strengthen its global supply chain to meet the fast-growing demand, continue to develop its e-Commerce platform and focus on high-growth segments to drive premium-to-market growth with leading profitability.
IDG’s second business unit, the Mobile Business Group (MBG) , while still impacted by COVID-19 and challenging currency exchange rates, has improved momentum with revenue increasing by 33% over the last quarter. Although revenue declined year-on-year, volume outgrew the market year-on-year in key markets like Latin America, North America and Europe, with record high market share in both Latin America and North America. Looking forward Lenovo will continue to leverage its strong product portfolio, innovative technology, particularly in 5G, and expand carrier ranging to resume profitable growth.
The Data Center Group (DCG) resumed hypergrowth, with revenue growing almost 20% to US$1.6 billion and profitability improving year-on-year. Notable successes included Cloud Service Provider business (previously called hyperscale), which grew more than 30% year-on-year, setting a new revenue record by capturing strong public cloud infrastructure demand driven by increased digital consumption due to COVID-19 lockdowns. Meanwhile, the customer base continues to grow thanks to customized in-house design and manufacturing capabilities and an expanded cloud services provider salesforce. Enterprise and SMB business (previously called non-hyperscale) delivered year-on-year revenue growth, led by double-digit revenue growth in high-growth segments such as Software Defined Infrastructure and Services, as well as High-Performance Computing. Looking ahead, we expect long-term growth in the Cloud Service Provider segment and will leverage the team’s existing strength in public and private cloud to expand the Edge computing business.
Lenovo’s Intelligent Transformation continues to show strong progress as a result of determined execution of the 3S strategy. Overall Software and Services revenue* grew 38% year-on-year to over US$1 billion, now accounting for around 7.6% of Group revenue. Smart IoT revenue* grew 39% year-on-year, Smart Infrastructure was up 16% and Smart Verticals* up 65%, driven by Smart City solutions in China and Smart Healthcare solutions in North America. Attached Service* grew 32% year-on-year, Managed Service* (including fast growing Device as a Service) grew 48% year-on-year and Solutions* grew 54% year-on-year.
* invoiced revenue
About Lenovo
Lenovo (HKSE: 992) (ADR: LNVGY) is a US$50 billion Fortune Global 500 company, with 63,000 employees and operating in 180 markets around the world. Focused on a bold vision to deliver smarter technology for all, we are developing world-changing technologies that create a more inclusive, trustworthy and sustainable digital society. By designing, engineering and building the world’s most complete portfolio of smart devices and infrastructure, we are also leading an Intelligent Transformation – to create better experiences and opportunities for millions of customers around the world. To find out more visit https://www.lenovo.com , follow us on LinkedIn , Facebook , Twitter , YouTube , Instagram , Weibo and read about the latest news via our StoryHub .
View source version on businesswire.com: https://www.businesswire.com/news/home/20200812005775/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Mirion Partners with IAEA to Enhance Radiation Safety on a Global Scale16.9.2025 23:19:00 CEST | Press release
Partnership Agreement to Strengthen Radiation Detection and Measurement Capabilities at the Terrestrial Environmental Radiochemistry (TERC) Laboratory, Safeguarding the Environment and Promoting Nuclear Safety Mirion (NYSE: MIR), a leading provider of advanced radiation safety solutions, has signed a partnership agreement and practical arrangements with the International Atomic Energy Agency (IAEA), the world’s central intergovernmental forum for scientific and technical cooperation in the nuclear field, to cooperate in the area of radiation detection and measurement. Through this collaboration, Mirion’s advanced instrumentation and profound understanding of ionizing radiation will combine with the IAEA’s expertise and influence to advance the safe and secure use of nuclear technology worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250916693003/en/ Mirion Chairman of the Board and CEO Thomas Logan and IAEA Director
NIQ and Displayce Collaborate to Bring Sales Lift Measurement to Europe’s DOOH Advertising Market16.9.2025 18:00:00 CEST | Press release
NIQ, a leading consumer intelligence company, and Displayce, a pioneering specialist technology suite for Out-of-Home advertising, are collaborating to bring advanced measurement capabilities to the European DOOH market. By combining NIQ’s trusted consumer intelligence with data from Displayce’s media activation platform, advertisers can link DOOH campaigns to in-store sales performance — driving transparency and accountability across the DOOH ecosystem. NIQ has long been a trusted source of consumer purchase insights for manufacturers and retailers, capturing the buying behavior of millions of households across more than 90 countries. Now, NIQ is extending its expertise and insights into the media ecosystem, empowering advertisers and agencies with new data assets and measurement solutions to improve their understanding of consumers and drive better ROI. Through the collaboration, NIQ and Displayce are driving the DOOH ecosystem toward more addressable, transparent, and results-driven
Capcom’s Resident Evil Requiem, the Latest Title in the Series, Also Coming to Nintendo Switch 2 on February 27, 2026!16.9.2025 15:00:00 CEST | Press release
– Additionally, two other Resident Evil series titles to be released for the console on the same date in step with Capcom’s multi-platform strategy – Capcom Co., Ltd. (TOKYO:9697) today announced that Resident Evil Requiem, the latest title in the Resident Evil series scheduled for release on February 27, 2026, for PlayStation®5 system, Xbox Series X|S, and PC, will also be released for Nintendo Switch™ 2 at launch. In addition, Resident Evil 7 biohazard and Resident Evil Village, two other titles in the series, will also be released for Nintendo Switch 2 on the same date. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250916064724/en/ Resident Evil Requiem Key Art Resident Evil Requiem is a survival horror game that serves as the ninth main installment in the series. The title is being developed using RE ENGINE, Capcom’s proprietary game engine, and leverages Capcom’s extensive development experience cultivated over numerou
Aker BP Leverages Cognite Atlas AI™ to Pioneer an AI-First Future in Exploration and Production16.9.2025 15:00:00 CEST | Press release
Human insight and autonomous agents work together to transform operations, enhance efficiency, improve safety, and unlock new value across the enterprise. Aker BP, one of Europe's largest independent oil companies, and Cognite, the global leader in industrial AI, deepen their strategic partnership through the expanded adoption of Cognite Atlas AI™,harnessing the power of AI agents to improve efficiency, reduce costs, and elevate productivity. This enhanced collaboration puts Aker BP at the forefront of leveraging agentic AI to drive significant value and transform its operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250903134233/en/ Aker BP Leverages Cognite Atlas AI™ to Pioneer an AI-First Future in Exploration and Production Aker BP's "AI-first strategy" was developed to help lead the energy sector into a data-driven future by seamlessly integrating AI applications within industrial settings and business objectiv
GlobalPlatform to Drive Next Phase of Growth for PSA Certified, Accelerating Security Adoption16.9.2025 15:00:00 CEST | Press release
Founded by Arm and industry partners, PSA Certified will continue to evolve under GlobalPlatform’s governance as the trusted global standard for secure connected devices GlobalPlatform announced today it will assume governance of PSA Certified, the global security certification scheme launched by Arm and key partners in 2019. In this next phase of growth, GlobalPlatform—the global standards organization for secure digital services and devices—will drive further collaboration, broader industry participation, and greater regulatory alignment for PSA Certified. Since its launch, PSA Certified has become a globally adopted framework that helps manufacturers and developers build secure connected products based on a Root of Trust. It aligns key security components—such as device identity, cryptography, attestation, and secure boot—with certification needs, regulatory requirements, and global best practices. To date, more than 250 products — spanning silicon, software, and devices—have been c
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom