Lenovo's revenue for the reporting period reached $18.8 billion, which is 20% higher than the figures for the same period last year and exceeds analysts' forecasts of $17.82 billion. The company's net profit amounted to $693 million, significantly exceeding expectations of $367.7 million.
After a decline caused by the pandemic, the global PC market began to show signs of recovery. According to IDC data, global PC shipments grew by 1.8% in the fourth quarter of 2024. Lenovo strengthened its position as a leading manufacturer, holding 24.5% of the market and increasing shipments by 4.8%.
The company pays special attention to the development of PCs with integrated AI capabilities. In May 2024, Lenovo introduced its first AI-oriented PCs in China, and in September their global release began. Lenovo CEO, Yang Yuanqing, predicts that by 2025 such devices will account for a quarter of all company shipments, and by 2027 - up to 80%.
In an effort to reduce dependence on PC sales, Lenovo is actively developing other areas. The Infrastructure Solutions Group (ISG), responsible for servers and IT solutions, increased revenue by 59%, reaching a record $3.9 billion. The Solutions and Services Group (SSG), which offers cloud and other IT services, recorded revenue growth of 12%, reaching $2.3 billion.
As part of its strategy to strengthen its AI capabilities, Lenovo has announced a collaboration with Chinese startup DeepSeek. DeepSeek technologies will be integrated into Lenovo devices, including PCs and tablets, providing users with access to AI services through the "XiaoTen" assistant without the need for additional installation or registration.
Lenovo's successful financial results and strategic initiatives underscore its adaptation to current market conditions in the era of hybrid AI.