Lenovo companies in India reported sales of $ 621 million in the September quarter, IT News, ET CIO
Businesses and consumers in India are rapidly evolving their relationship with technology, and this accelerated transformation is creating new opportunities for Lenovo in all of our business segments, Shailendra Katyal, Managing Director of Lenovo India, told PTI.
He added that to seize these opportunities, Lenovo is making significant investments in innovation across its business as it moves from a device company to a provider of integrated services and solutions.
“We are leveraging technology to empower businesses large and small, the communities they serve and the individuals who create the future,” he said.
Lenovo Group announced record quarterly results for the group globally, with “all-time highs for both earnings and revenues.”
The company’s operational excellence, innovation and strong execution underpin improvements across all key business groups, despite broader sourcing challenges in the industry, he said.
“These, along with the opportunities created by accelerated digitization, smart transformation and IT upgrades to devices, infrastructure and applications around the world, continue to fuel long-term and sustainable increases in profitability. of the group, ”the statement said.
Lenovo Group revenue rose 23 percent to $ 17.86 billion in the September 2021 quarter, from $ 14.51 billion a year earlier.
Its net profit (profit attributable to shareholders) jumped 65 percent to $ 512 million in the quarter under review, from $ 310 million a year ago.
Lenovo’s investment in research and development (R&D) has increased significantly by nearly 60%, said Yuanqing Yang, chairman and chief executive officer of Lenovo.
“Going forward, we will continue to meet our goal of doubling R&D spending over three years and continuing our smart service-oriented transformation,” he added.