Yuanqing yang, Chairman of Lenovo Group

New Delhi, Aug 11 PC major Lenovo registered approximately $462 million in revenues revenue for all group businesses in India for the June quarter, representing year-on-year growth of 31.3 percent, as demand for digital devices to maintain work-life balance continued to surge amid the second Covid wave, the company said on Wednesday.In India, Lenovo saw steady growth throughout the past fiscal year and delivered an exceptionally strong performance this past quarter."We saw strong demand across businesses in India over the past year, and the first quarter this year did exceptionally well. As individuals, companies, and institutions address the demands of the ongoing pandemic, they are transforming their relationship with technology," said Shailendra Katyal, Managing Director, Lenovo PCSD India and Site Leader, Lenovo India."With our comprehensive technology services, our broad range of devices, and infrastructure solutions, Lenovo is supporting this transformation. We are expediting the adoption of hybrid work systems, the digitization of core industries, and further educational opportunities," he added.Globally, Lenovo's performance delivered significant year-on-year profitability improvements, with pre-tax income almost doubling to $650 million (up 96 per cent), and net income also more than doubled (up 119 per cent).In the June quarter, the Lenovo Group logged $16.9 billion in revenue, up 27 per cent year-on-year."The accelerated digital and intelligent transformation has created significant market opportunities globally. Lenovo is successfully seizing these as we transform from a device company to a services and solutions provider," said Yuanqing Yang, Lenovo Chairman and CEO."Going forward, we will continue to increase R&D investment, aiming to double it over the next three years and further improve our operational excellence," he added.Looking ahead, the company sees continued opportunities for sustainable growth and profitability improvements across its business, in areas such as vertical solutions, infrastructure solutions, premium PCs, and adjacent non-PC devices such as tablets, smartphones, embedded computing, and other smartdevices.Having increased R&D expenses in the first quarter by 40 per cent year-on-year, Lenovo said it will further invest in innovation and double its R&D investments over the next three years.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Yuanqing YangFOLLOW

Yuanqing yang, Latest News

Technology :Lenovo begins laying off employees as PC biz takes a beating

New Delhi, April 22 Global technology brand Lenovo has reportedly started laying off employees, as its PC business ... ...

Technology :Motorola to soon launch new version of foldable Razr phone

arcelona, March 2 Lenovo CEO Yuanqing Yang has confirmed that a new version of the foldable Motorola Razr ... ...

Technology :Lenovo logs $400 mn quarterly revenue across portfolios in India

New Delhi, Feb 17 Global technology company Lenovo Group on Friday reported revenue of $15.3 billion and net ... ...

Technology :Lenovo to hire 12K R&D professionals in next 3 years

New Delhi, April 5 Global conglomerate Lenovo has announced plans to hire 12,000 R&D professionals over the next ... ...

Technology :Lenovo logs 31% growth in India in pandemic-hit June quarter

New Delhi, Aug 11 PC major Lenovo registered approximately $462 million in revenues revenue for all group businesses ... ...