Lenovo Post Record Market Share, Profit Up
Lenovo Group has more than doubled Q1 net income to US$162 million, with group revenue notching US$12.5 billion – its eighth consecutive quarter of revenue growth.
The company claims it has also achieved a record market share of 24.9%, with one in every four PCs built worldwide a Lenovo product.
“Once again, this quarter’s strong results provided solid evidence that Lenovo’s Intelligent Transformation is enabling the company to drive sustainable, profitable growth in today’s dynamic and changing world,” claims Yang Yuanqing, Lenovo Chairman and CEO.
Pre-tax income also more than doubled, up US$127 million YoY to US$240 million.
Lenovo’s PC and Smart Devices Group achieved its highest-ever Q1 profit, and 12% revenue growth.
Divisional pre-tax income lift US$98 million to US$524 million – the Americas and Asia Pacific region post 20% and 40% year-on-year revenue growth respectively.
All four company geographies (Americas, Asia Pacific, China, EMEA) each delivered over US$2 billion in revenue during the quarter.
Lenovo has sought to further grow its high-growth and premium categories including; Workstation, Thin and Light, Visuals, Gaming PCs and Chromebook.
The company claims it will continue to innovate in IoT and smart home interactivity with new devices for homes and offices.
The news comes after Lenovo announced its top Australian partners for 2019, recognising an “outstanding year” of local channel growth.
The company’s Business Partner Gala Awards were held at 12-Micron in Sydney yesterday, hosted by comedian Arj Barker.
“Lenovo strives to deliver a channel-first experience and a reliable end-to-end portfolio that future proofs our partners’ businesses amidst today’s digital transformation,” claims Matt Codrington, Managing Director, Lenovo Australia & New Zealand.
“The Partner Gala Awards gives us the chance to celebrate these relationships and the incredible success, results and meaningful innovations our partners have achieved over the past year.”
Lenovo 2019 Partner Gala Award Winners (PCSD):
- Australian Distributor of the Year – Ingram Micro
- Growth Partner of the Year – Centre Com
- Innovation Partner of the Year – Ethan Group
- Education Partner of the Year – Learning with Technologies
- Reseller of the Year – Platinum Partner – Datacom Australia
- Reseller of the Year – Gold Partner – Insight Enterprises Australia
- Lenovo Legend – Ian Doherty, Learning with Technologies
- Services Partner of the Year – Stott Hoare
Lenovo 2019 Partner Gala Award Winners (DCG):
- Australian Distributor of the Year – Dicker Data
- Growth Partner of the Year – Nuago
- Innovation Partner of the Year – Virtualflex
- Managed Service Provider of the Year – IQ3
- ThinkAgile Champion – DXC Connect
- Reseller of the Year – Platinum Partner – Data#3 Limited
- Reseller of the Year – Gold Partner – MoQ Digital
- Alliance Champion Award – Jason Daniels & John Morgan – Nutanix
- Technical Excellence Award – Markus Tang – Stott Hoare
- Sales Marquee Award – Brian Hawkins – Stott Hoare