Lenovo Group has announced its third-quarter financial results for the 2024/25 fiscal year, ending December 31, 2024. The company achieved a 20% year-on-year revenue growth, reaching 135.1 billion yuan. More impressively, net profit soared by 106%, totaling 4.98 billion yuan. This highlights Lenovo’s continued dominance in the tech industry.
Strong Leadership in Personal Computers
Lenovo Group’s personal computer division continues to be a market leader. As the global PC industry experiences a new wave of upgrades, particularly driven by the Windows 11 system promotion, Lenovo’s market share in the personal computer sector has reached 24.3%. This marks a notable lead of nearly 5 percentage points over its closest competitor, reinforcing Lenovo’s position as a dominant force in the PC market.
AI PCs and Notebook Sales Surge
AI PCs have become a significant growth driver for Lenovo. In China, AI-powered notebooks now make up 15% of all notebook sales. This reflects the increasing demand for intelligent devices. Lenovo’s innovation in this space gives it a competitive edge.
Mobile Phone Business Shows Strong Growth
Lenovo’s mobile phone business also performed well, with a 21% increase in revenue year-on-year. The company’s global position has improved, now ranking in the top five in several international markets. In regions like China, Asia-Pacific, and Europe-Middle East-Africa, Lenovo’s market expansion sets the stage for future growth and profitability.
Infrastructure Solutions Group Delivers Strong Results
Lenovo’s Infrastructure Solutions Group (ISG) turned a profit this quarter. Revenue rose by 60%, reaching 28.3 billion yuan. The cloud infrastructure business (CSP) achieved record results. The enterprise infrastructure business (E/SMB) also showed steady growth, demonstrating Lenovo’s strong positioning in the infrastructure market.
Solution Services Business Continues to Thrive
The Solution Services Business Group (SSG) also saw strong performance. SSG’s revenue reached a new high of 16.2 billion yuan. The group’s operating profit margin remained strong. Non-hardware services, such as operation and maintenance, now make up a larger share of SSG’s overall revenue, a record high.
Conclusion
The Lenovo Group Q3 financial results 2024 showcase impressive growth across multiple sectors. The company leads in personal computers, mobile phones, infrastructure solutions, and solution services. With investments in emerging technologies like AI PCs, Lenovo is set to maintain its growth trajectory in the global market.
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