Lenovo targets a future beyond its PCs
Print Edition
LENOVO Group Ltd has a new strategy for the next decade focusing on non-PC business development, business opportunities like new-tech basic infrastructure construction and 5G, the world’s No. 1 personal computer vendor said yesterday.
The PC industry faced challenges including COVID-19 outbreak. Its sales decreased about 10 percent in the first quarter, researchers said.
“It’s a challenging year ahead. But the things don’t kill us will make us strong,” Yang Yuanqing, Lenovo’s chairman, said yesterday.
Yang unveiled the company’s 3S strategy for the next decade, referring to Smart Internet of Things, Smart Infrastructure and Smart Verticals.
In the coming new year, Lenovo’s software and service business will grow 20 percent year-on-year. Smart Infrastructure business grow rapidly with China’s national strategy to develop new-tech infrastructure.
The company plans to have over 100 commercial or enterprise 5G customers.
Lenovo’s service revenue will double in the coming year while its investment business is expected to bring US$100 million investment return annually since this year, Lenovo’s senior executives said.
In the first quarter, global PC sales were 53.2 million units, a 9.8 percent decrease from a year earlier, according to research group International Data Corp.
Lenovo is still the global PC market leader with 24.1 percent, followed by HP with 22 percent and Dell at 19.7 percent.
In China, Lenovo is still the dominate player, with over 40 percent of the market. It has resumed full operations after the coronoavirus outbreak.
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