Chinese PC maker benefits from WFH trend.

 

Lenovo has reported a record fourth quarter results with total revenue surging 48 per cent to US$15.6 billion, driven by growth in the company’s PC business.

 

With the sharp rise in remote working due to the global COVID-19 pandemic, Lenovo’s annual revenue now stands at an all-time high of US$60.7 billion.

 

“Last quarter, we delivered our fastest growing quarter in almost a decade and closed the fiscal year with the new milestone of passing US$60 billion in revenue and significant growth in profit to a new record,” Lenovo chairman and CEO Yuanqing Yang, said in a statement. 

 

“These historic highs were achieved by leveraging our core competencies of a clear strategy, innovative products, operational excellence, and global-local model to meet the new needs in the ‘new normal’,” he said.

 

Lenovo’s PC and Smart Devices sales to hit a record US$12.4 billion, up 46 pe rcent year-on-year, while profitability reached an all-time of 6.7 per cent. 

 

Lenovo tablet shipments led the market with unit sales up 157 per cent year-on-year.