Lenovo posts higher profit, targets opportunities in hybrid AI

by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – LENOVO Group has reported a profit jump across all areas of the business and significant progress in capturing hybrid Artificial Intelligent (AI) opportunities.

In the first quarter of the 2024/25 year, group revenue increased 20 percent year-on-year to US$15,4 billion (approximately R274,8bn), while net income was up 65 percent year-on-year to $315 million on a non-Hong Kong Financial Reporting Standards basis.

Non-PC revenue mix was up five points year-to-year, reaching a historic high of 47 percent.

The group’s results reflected its clear strategy and strong execution, persistent focus on innovation and operational excellence, as well as the advantages it reaped from being a globalised business, the company said.

Lenovo said it was both uniquely positioned and well-prepared to lead in an era of hybrid AI with its full-stack portfolio featuring AI devices like AI PCs, AI servers that support all major architectures, as well as rich AI native and AI embedded solutions and services.

Chairman and chief executive officer, Yuanqing Yang, said: “The great start to our fiscal year has been driven by our clear strategy and strong execution, our persistent innovation and operational excellence, as well as our globalization advantages.”

– CAJ News