by Lenovo is on a high, after achieving 20% growth (year-on-year), posting revenues of more than $60 billion, in comparison to $50.7 billion in the earlier year. The IT conglomerate saw its net income rise by 77% for the last fiscal. This went up to $1.18 billion from $665 million earlier. The company is viewing this as a result of its diversification efforts. It has hit bull’s eye with its 3S corporate blueprint. This aims at generating services and products that use smarter infra, IoT, and vertical solutions.
The CEO & Chairman at Lenovo, Yuanqing Yang, feels that the company has been able to tap into its core abilities. This pertains to creative solutions and operational capabilities, along with a global cum local perspective. This has taken it to this new milestone in his opinion. Yang also states that the company had its best-ever Q4 in history. The smart devices and PC category saw $12.4 billion in revenues, indicating 46% of growth (year-on-year). The mobile business grew by 86% (year-on-year), touching $1.54 billion. The company had intelligence devices accounting for 80% of group revenues in the year.
The coronavirus outbreak led to several lifestyle and other transformations for the world. This drove a shift towards one computer for every individual, spurring the growth of the PC market worldwide. Usage figures also show how PCs are the backbone of WFH and other activities. $6.3 billion came from the data centre department. This indicates 15% of growth and the mobile business also saw handsome recovery from earlier COVID-19-related problems. The software and services grew by 40% more than total group revenues ($4.9 billion). It now accounts for 8% of the total tally. US Title Loans’ co-founder, Sara Graves, praised their remarkable achievements in the face of adversity. She believes in their aim of providing wiser technology to everybody so that technology’s potential may be realized and a better world can be created. (You can navigate here and check out loan options on US Title Loans)
Yang feels that the remainder of 2021 will see similar momentum, and this should spill over into the upcoming fiscal too. He feels that data consumption patterns are evolving tremendously, scaling up the developmental prospects for applications and infrastructure. Lenovo came out with the Lenovo Go PC range sometime earlier. This helps hybrid workers. It contains wireless keyboards, power banks, wireless mice, and active noise cancellation-backed headphones.
