Lenovo Group (HKSE: 992) (ADR: LNVGY) announced third quarter results, reporting Group revenue of US$15.3 billion and net income of US$437 million. Group revenue from non PC businesses reached a high of 41% and profitability remained solid as Lenovo’s diversified growth engines of Solutions and Services Group (SSG) and Infrastructure Solutions Group (ISG) grew revenue to record highs of US$1.8 billion and US$2.9 billion respectively, up 23% and 48% year-on-year.
Lenovo (HKSE: 992) (ADR: LNVGY) is a US$70 billion revenue global technology powerhouse, ranked #171 in the Fortune Global 500, employing 75,000 people around the world, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver smarter technology for all, Lenovo has built on its success as the world’s leading PC player by expanding into new growth areas of infrastructure, mobile, solutions and services. This transformation together with Lenovo’s world-changing innovation is building a more inclusive, trustworthy, and sustainable digital society for everyone, everywhere.
Lenovo has three business groups aligned to delivering its 3S Strategy (Smart IoT, Smart Infrastructure, Smart Solutions):
- IDG (Intelligent Devices Group)
– focused on various Smart Devices and IoT;
- ISG (Infrastructure Solutions Group, renamed from DCG, Data Center Group)
– focused on Smart Infrastructure; and
- SSG (Solutions and Services Group)
– focused on Smart Verticals & Services, which will spearhead the company’s transformation by delivering incremental business across smart verticals, attached services, managed services and our ‘as a service offerings’ including DaaS and TruscaleTM.