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April 24, 2019

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Lenovo says revenues pass US$50b

Lenovo Group, whose annual revenue has surpassed US$50 billion for the first time, expects revenue to continue growing through its stable personal computer business and new growth engines such as data centers and smartphones.

Lenovo’s fiscal year ended in March with revenue up 12.9 percent to more than US$50 billion. It expects “rapid growth” in 2019 despite an uncertain macro economy environment, said Liu Jun, the company’s China president.

Lenovo’s PC market share hit a record-high of almost 25 percent, regaining the No. 1 position globally.

Smartphone sales tripled in the year, turning black from red in Q1 for the first time since the company acquired Motorola Mobility in 2014.

The new Z6 Pro smartphone with the latest Qualcomm processor and a special camera for video capture will go on sale next Monday and includes a 5G-ready version. China is going to issue 5G licenses this year, but Lenovo faces strong competition from domestic rivals.


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