Arthur HU, Senior Vice President and CIO | Lenovo
Arthur HU, Senior Vice President and CIO | Lenovo
Lenovo Group Limited has reported its third-quarter results for the fiscal year 2024/25, showing significant growth in both revenue and profit. The company achieved a 20% increase in revenue year-on-year, reaching $18.8 billion, marking three consecutive quarters of double-digit growth. Net income more than doubled to $693 million, aided by a non-recurring income tax credit of $282 million.
The company's strategy focused on hybrid AI has been a key driver of this success. Lenovo's non-PC revenue mix increased by over four points to 46%. The Infrastructure Solutions Group returned to profitability, while the Intelligent Devices Group and Solutions and Services Group both experienced double-digit growth.
Research and development investments rose nearly 14% to $621 million. At CES 2025, Lenovo introduced several innovative products such as the first rollable AI laptop and a handheld gaming device supporting Windows OS or Steam OS. These innovations earned Lenovo 185 industry awards.
Lenovo is concentrating its innovation investment on AI technologies, aiming to build a foundational AI technology platform and drive breakthroughs in agentic AI. The company sees opportunities arising from the current AI boom, which is enhancing efficiency and reducing computing costs.
Looking forward, Lenovo remains committed to investing in hybrid AI innovation. It believes its global supply chain and manufacturing expansion in the Middle East will help it navigate macroeconomic challenges successfully. Chairman and CEO Yuanqing Yang stated: “Lenovo’s revenue and profit both achieved significant growth last quarter... Looking ahead, our continued investment in innovation... positions us well for sustained and profitable growth in the future.”
In terms of financial highlights:
- The Intelligent Devices Group (IDG) saw double-digit revenue growth with revenues reaching $13.8 billion.
- The Infrastructure Solutions Group (ISG) reported a near 60% increase in revenue year-on-year.
- The Solutions and Services Group (SSG) maintained its streak of double-digit revenue growth for 15 straight quarters.
Additionally, Lenovo was named FIFA’s official technology partner for upcoming World Cup events and received several ESG awards recognizing its sustainability efforts.
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