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August 14, 2020

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Lenovo revenue rebounds

Lenovo Group’s revenue and net profit rebounded in the second quarter, despite uncertainty due to COVID-19, China’s biggest personal computer vendor said yesterday.

Working at home and online learning had fuelled demand for computers while digital infrastructure construction also boosted its data center business income, Lenovo said.

The company’s net profit in the quarter was 1.5 billion yuan (US$214 million), a 31 percent growth year on year. Revenue hit 94.6 billion yuan, up 6.7 percent from a year ago.

“Our outstanding performance last quarter proves that Lenovo has quickly regained momentum from the impact of the pandemic and is capturing the new opportunities emerging from remote working, education and accelerated digitalization,” Lenovo Chairman and CEO Yang Yuanqing said.

Yang is “full of confidence” about China’s rebounding economy and sees a bright future for the global digital economy.

Its major PC and smart devices business generated revenue growth of 10.1 percent to hit 75.1 billion yuan in the quarter, according to the company.


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