Lenovo said on Thursday that it had a positive trend in the July-September 2021 period, with total sales of USD 621 million. According to a release, overall sales for all Lenovo operations in India were USD 621 million in the second quarter (July-September 2021), indicating a year-on-year rise of 26.9 per cent. According to Lenovo India Managing Director Shailendra Katyal, businesses and consumers in India are rapidly transforming their connection with technology, and this fast change is providing new possibilities for Lenovo across all business areas.
He went on to say that in order to capitalise on these prospects, Lenovo is investing heavily in innovation throughout its business as it transitions from a device manufacturer to an interconnected management consulting supplier. “We use technology to empower companies of all sizes, the neighbourhoods they represent, and the folks who are shaping the future,” he explained. Lenovo Group has reported record quarterly earnings for the company worldwide, with “history highs for both profit and revenue.”
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Despite larger industry supply issues, the firm’s operational excellence, innovation, and outstanding execution underlie the gains across all core business segments, according to the company. “These, together with the opportunities presented by faster digitisation, intelligent transformations, and IT improvements in devices, equipment, and apps throughout the world, continue to fuel the group’s long-term and sales growth improvements,” according to the statement.
Lenovo’s group revenue increased 23% to USD 17.86 billion in the September 2021 quarter, compared to USD 14.51 billion the previous year. Its net income (profit attributable to equity holders) increased by 65% to USD 512 million in the current quarter, up from USD 310 million the previous year. Lenovo’s research and development (R&D) spending has climbed by about 60%, according to Lenovo Chairman and CEO Yuanqing Yang. “Looking ahead, we will continue to pursue our aim of doubling R&D investment over the next three years, as well as accelerate our service-led intelligent transformation,” he said.
