Lenovo rides the AI wave, sales up 20%
- Significant revenue growth: Lenovo reported a 20% year-over-year increase in revenue to $15.4 billion for the first quarter of fiscal year 2024/2025.
- Artificial Intelligence Computing: Positive reception of Lenovo's first AI computers, launched in May 2024, contributed to growth. The company plans another global launch later this year.
- Leadership: Lenovo has maintained a 23% share of the PC market and expects AI computers to account for more than 50% of the market by 2027.
- Diversification: Non-PC revenue now accounts for a record 47% of total revenue.
- Strong profit growth: Net income grew 65% to $315 million.
- Infrastructure and Services: Lenovo Infrastructure Solutions Group saw 65% revenue growth driven by demand for cloud infrastructure. Solutions and Services Group achieved double-digit growth for the 13th consecutive quarter.
- Future Innovation: Lenovo is focused on continued innovation and strengthening its global footprint through strategic partnerships.
Wow, that's nice. It's interesting, but I'm not really into it.
Lenovo is interesting, but personally I've never even delved properly into their products. I also see they have pretty low margins.