Global technology giant Lenovo is strengthening its competitiveness through operational excellence (OPEX) and innovation. That’s a key takeaway from the firm’s strong full-year performance results, published this week.
Lenovo reported significant increases in overall group revenue and profit. For the full year, revenue grew 21 percent year-on-year to US$69.1 billion, marking the Group’s second-highest annual revenue in its history.
Net income was up 36 percent year-on-year to $1.4 billion, while the group’s diversified growth engines continue to accelerate with non-PC revenue mix up nearly five points year-on-year to 47 percent.
All business groups were healthy and strong and met their strategic intent and financial goals, and all sales geographies gained double-digit revenue growth year-on-year.
OPEX and innovation are key to Lenovo’s success
OPEX and innovation are playing key roles in Lenovo’s strong performance. The firm continues to prioritize investment in both areas, with R&D expenses up 13 percent year-on-year to $2.3 billion.
“This has been one of our best years yet, even in the face of significant macroeconomic uncertainty,” said Yuanqing Yang, chairman and CEO of Lenovo. “We achieved strong top-line growth with all our business groups and sales geographies growing by double digits, and our bottom-line increased even faster. I’m confident that our OPEX and continued investment in innovation will not only sustain but strengthen our competitiveness.”
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Lenovo’s hybrid AI strategy
The past year also saw several key announcements, investments and milestones from the group as part of its hybrid artificial intelligence (AI) strategy.
These include the launch of AI PCs where Lenovo is now number one globally in the Windows AI PC category, the launch of the first foldable phone with Moto AI, hypergrowth in the AI server business, the creation of core solutions and services capabilities with Lenovo Hybrid AI Advantage and the launch of the Group’s first personal and enterprise AI super agents.
Looking ahead, Lenovo remains confident that its focus on innovation and hybrid AI, together with its globally balanced business and a flexible, resilient supply chain will not only maintain but also enhance its market competitiveness.
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