Lenovo Releases Q1 Financial Report for 19/20 Fiscal Year

Lenovo Group

On August 15, Lenovo released a financial report for the first fiscal quarter of the 2019/20 fiscal year. Lenovo Group‘s performance had a remarkable start. The quarterly revenue reached 85.3 billion yuan, demonstrating year-on-year growth for 8 consecutive quarters. The company’s pre-tax profit reached 1.64 billion yuan, a year-on-year increase of over 113%, while the net profit totaled 1.1 billion yuan, a year-on-year increase of over 111%.

“Once again, we have proved that the intelligent transformation strategy is correct, and strong executive capabilities allow us to achieve sustainable growth under volatile circumstances,” said Yang Yuanqing, president and CEO of Lenovo.

SEE ALSO: Lenovo in the Lead of the Global PC Market in Q4

Personal Computer Business

This quarter, Lenovo’s PC sales rose by 17.9% year-on-year, and it is now the global PC market champion. At the same time, the company hit another record high increasing its market share to 24.9%. One out of every four PCs sold in the world are from Lenovo.

Mobile Business

Lenovo’s pre-tax profit generated by their mobile business has increased by nearly 700 million yuan for the past four consecutive quarters. Against the backdrop of an overall decline in smartphone sales in the North American market, Lenovo’s smartphone sales increased by 28.4% year-on-year, and the pre-tax profit margin increased by more than 14% year-on-year. In the Latin American market, Lenovo’s smartphones have outperformed the macro market players for 11 consecutive quarters.

Data Center

Lenovo’s data center business is stable. The company holds fourth place in the X86 server market and remains the number one supplier of supercomputers on the global top 500 list.

Recently, Lenovo held the “2019 Lenovo Global Supercomputing Summit” in Beijing, and announced the launch of their new high-performance computing solution “Shenteng X9000”. It is an integrated solution network embedded with several key technologies including high-performance computing, artificial intelligence and big data.