Lenovo has reported its performance for the fourth quarter of December 2024, with a total revenue increase of 20% from the same period in the previous year, reaching $18.796 billion, and a net profit of $693 million. This marks a consecutive two-digit revenue growth for the third quarter. Revenue from non-PC businesses increased by 46% of the total revenue, in line with Lenovo’s strategy to generate revenue from new business groups.
The Intelligent Devices group saw a 12% revenue increase, outperforming the competition in the PC market and showing significant growth in the smartphone business. Meanwhile, the Infrastructure Solutions business achieved a remarkable 60% growth, with revenue reaching $3.9 billion, driven by both cloud service provider and corporate customer segments.
Lenovo CEO Yuanqing Yang emphasized the company’s strong performance across all business groups, particularly highlighting the turnaround in the Infrastructure group with another net profit. The smartphone segment also exhibited rapid growth.
TLDR: Lenovo reports strong revenue growth in the fourth quarter, driven by non-PC businesses and notable performance in the Intelligent Devices and Infrastructure Solutions groups. CEO Yuanqing Yang affirms the company’s solid growth trajectory.
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