© Reuters. FILE PHOTO: The Lenovo brand is seen on this illustration picture January 22, 2018. REUTERS/Thomas White/Illustration
By Brenda Goh
SHANGHAI (Reuters) -Third-quarter revenue jumped 62% to an all-time excessive of $640 million at China’s Lenovo Group (OTC:), the world’s largest maker of private computer systems stated on Wednesday, because the rising reputation of hybrid work preparations boosts demand for PCs.
Income for the quarter ended Dec. 31 rose 17% to $20.1 billion, additionally a report and forward of a median estimate of $18.4 billion from 10 analysts, in line with Refinitiv knowledge.
Lenovo stated worldwide demand for business PCs, excluding the Chromebook, within the quarter elevated on the third-highest charge of progress since 1998. Clients had been shopping for extra premium, transportable and high-quality PCs because of the rising prominence of distant working.
“The hybrid work state of affairs will proceed even after the pandemic and increasingly more corporations have introduced they may have a hybrid working mannequin,” CEO and Chairman Yang Yuanqing instructed Reuters.
“That may assist drive PC demand not less than to maintain present ranges of round 340-350 million (a yr),” he added, referring to a forecast consultancy IDC has made for demand by the years 2022-2025.
Whereas a world scarcity of semiconductors, which has affected varied industries together with automakers, remained a enterprise problem, there have been indicators of easing, notably for the second half of the yr, he stated.
Lenovo additionally stated that it was on monitor to ship its medium-term goal of doubling its web earnings margin.
Lenovo is the world’s largest PC maker, having captured a 24.6% market share of worldwide PC shipments within the fourth quarter of 2021, adopted by HP Inc (NYSE:) and Dell, in line with consultancy Gartner (NYSE:).
Lenovo had final yr utilized for a ten billion yuan ($1.56 billion) share itemizing in Shanghai however abruptly withdrew it days after the applying was accepted by Shanghai’s STAR market. Yang stated it had at the moment no plans to resubmit the applying.
Fusion Media or anybody concerned with Fusion Media won’t settle for any legal responsibility for loss or injury because of reliance on the knowledge together with knowledge, quotes, charts and purchase/promote alerts contained inside this web site. Please be absolutely knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is likely one of the riskiest funding kinds potential.
