Lenovo's profits have grown for the second consecutive quarter, with the world's largest personal computer manufacturer emerging from an industry slump that has lasted for years and seizing the opportunity of artificial intelligence to drive growth.
According to financial reports, Lenovo's net profit reached $243 million in the three months ending June 30, a year-on-year increase of 38%. This achievement not only exceeded analysts' expectations but also breathed new life into Lenovo after years of industry downturn.
Additionally, Lenovo's total revenue also reached $15.45 billion, a 20% increase from the same period last year. This surge was mainly driven by the development of the computer, infrastructure, and service departments. Particularly, with the help of AI technology, Lenovo has found a new growth path in the market. As early as May, Lenovo launched AI personal computers equipped with Microsoft's Copilot tool and Qualcomm's Snapdragon X Elite processor. Company executives even refer to this trend as the "inflection point" of the industry. They believe that the普及 of AI will push the global PC market back to the sales level before the pandemic.
In terms of smart devices, Lenovo also performed excellently, with product lines including personal computers, smartphones, and tablets all achieving "growth above market average". The company's average selling price continues to rise, and the profit margin is also increasing. Moreover, Lenovo is also striving to expand its business scope, with non-PC business revenue growing by 5% year-on-year, accounting for 47% of total sales, the highest in history.
Lenovo's infrastructure solutions business is even more impressive, especially in the data center server, storage, and network business, where sales skyrocketed by 65%. This is due to the launch of AI infrastructure products and the improvement of AI graphics processing unit supply. To further promote development, Lenovo reached a $2 billion financing agreement with a unit under the Saudi Arabian sovereign wealth fund in May and plans to establish a manufacturing center in the region. These measures provide strong support for Lenovo's global strategic transformation.
Yang Yuanqing, CEO of Lenovo, said: "Our outstanding performance and continuous progress in the AI field will continue to provide momentum for our sustainable growth and improvement in profitability." The future development of Lenovo is highly anticipated.
Key Points:
1. 🚀 Lenovo's second-quarter net profit reached $243 million, a 38% year-on-year increase, exceeding analyst expectations.
2. 💻 Total revenue of $15.45 billion, a 20% increase, mainly driven by computers and AI technology.
3. 🌍 Lenovo is actively expanding non-PC business, with non-PC revenue accounting for 47% of total sales, and infrastructure business sales growing by 65%.