Announcing its Q2 results, Lenovo Group Limited said that it is seeing clear signs of recovery across the technology sector, noting the strong execution of its strategy, operational excellence, and continuous investment in innovation as key contributors to its quarter-on-quarter performance improvements.
► Delivers quarter-on-quarter performance improvements
► Group uniquely positioned to leverage opportunities created by AI
Looking ahead, Lenovo said that it will further leverage the opportunities created by AI, where it is uniquely positioned to succeed given its hybrid AI model, pocket-to-cloud portfolio, strong ecosystem and partnerships, and growing portfolio of AI technologies and capabilities. Its ongoing investment in innovation and in particular AI, will further bolster Lenovo’s ability to capture the exponential growth from AI and drive sustainable growth and profitability for the business. The group is confident in its ability to resume year-on-year growth very soon.
Lenovo is committing a further US$1 billion in investment for AI-driven innovation that will not only ensure it can realise its vision for ‘AI for All’, but that it can drive sustainable growth for the entire business.
The second quarter figures showed group revenue of $14.4 billion and a gross profit margin that improved year-on-year to 17.5%, a record high for a second quarter. Revenue from Lenovo’s non-PC businesses accounted for 40% of group revenue.
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