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Kelly Le

Lenovo Group, the world’s largest personal computer (PC) maker, reported a 20 per cent year-on-year increase in revenue for the June quarter, a sign of continuing recovery in the computer market after two years of weak demand.
The Beijing-based company achieved better-than-expected revenue of US$15.4 billion in the quarter ending June, exceeding the estimated US$14.1 billion number expected by analysts.
It marks Lenovo’s third consecutive quarter of revenue growth after a period of sluggish global demand since late 2022.
“Driven by our clear strategy and strong execution, our persistent innovation and operational excellence as well as our globalisation advantages, we delivered a solid performance in our first quarter with all of our businesses improving profitability and growing faster than the market,” Lenovo chairman and chief executive Yang Yuanqing said during the company’s earnings call on Thursday.

Lenovo reported profitability across all areas of its business in the first quarter of its 2024-25 fiscal year. Net income grew 65 per cent to US$315 million from US$191 in the same period last year, based on non-GAAP reporting standards.
Lenovo’s Intelligence Devices Group (IDG), which includes PCs, smartphones and tablets, recorded 11 per cent year-on-year revenue growth to US$11.4 billion in the quarter, with the PC business maintaining a 23 per cent global market share and its smartphone and tablet businesses posting 28 per cent and 33 per cent revenue growth, respectively.
Lenovo has also been sharpening its focus on artificial intelligence (AI), integrating the technology into its devices and servers with native capabilities.
AI PCs, which have become a major industry trend, are laptops and desktop systems equipped with advanced processors that allow them to run generative AI tasks on-device, instead of processing the data on the cloud.
The company launched a dozen AI PC models in May and is expected to roll out more during IFA, the world’s largest consumer electronics and home appliances show in September, and at Lenovo’s Tech World event in October.

“We are at the very beginning of AI PCs and what will matter will be user experiences,” company executive vice-president Luca Rossi said on the earnings call. “We have already now, for a couple of years, [been] expanding our R&D investment … and that is not only on the hardware front but also on the software front, because we believe user experience will matter a lot.”
In China, Lenovo is offering models embedded with the company’s proprietary AI PC intelligence, Rossi told the Post in an interview in May. Rossi said Beijing’s different regulatory system and concerns over data sovereignty were taken into consideration when building the AI system for China.
In the earnings webcast on Thursday, Lenovo’s Yang said the firm has received positive feedback from the initial launch of AI PCs for the China market, and that it was “both uniquely positioned and well-prepared to lead in an era of hybrid AI”.
“Looking ahead, we expect the PC market to enter a new refresh cycle driven by AI PCs, which will gradually grow to represent more than 50 per cent of the PC industry landscape by 2027,” said Yang.
Yang noted that Lenovo would develop more AI devices, including AI phones and AI tablets, so that users can “enjoy AI experiences across different devices and across the ecosystem”.


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It marks Lenovo’s third consecutive quarter of revenue growth after a period of sluggish global demand since late 2022


Lenovo reported a 20 per cent year-on-year increase in revenue for the June quarter, a sign of continuing recovery in the PC market after two years of weak demand.


Lenovo’s net income up 65% in June quarter as ‘intelligent devices’ see strong growth

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;}It marks Lenovo’s third consecutive quarter of revenue growth after a period of sluggish global demand since late 2022

It marks Lenovo’s third consecutive quarter of revenue growth after a period of sluggish global demand since late 2022