Lenovo announced its third-quarter results for fiscal year 2024/25, reporting significant increases in overall group revenue and profit.
The company’s revenue grew 20% year-on-year to $18.8 billion, marking the third consecutive quarter of double-digit growth.
The group’s diversified growth engines continue to accelerate, with non-PC revenue mix up more than four points year-on-year to 46%.
The quarter’s results were driven by the group’s focused hybrid-AI strategy, the turnaround of the Infrastructure Solutions Group, as well as double-digit growth for both the Intelligent Devices Group and Solutions and Services Group.
Locally in South Africa, Lenovo holds the no.1 market share in the consumer notebook and desktop categories, according to IDC. The growth is driven by Lenovo’s commitment to innovation and customer-centric solutions. In the wider region, Lenovo is also dominating with a 34.4% market share in all segments in SADC.
“By integrating cutting-edge AI technologies and expanding our hybrid working portfolio, we empower users with smarter, more efficient tools that enhance productivity and connectivity,” Lenovo South Africa General Manager, Yugen Naidoo, said.
“Our focus on democratizing AI and delivering innovative solutions ensures that all South Africans, from small businesses to large enterprises, can harness the power of technology to drive growth and success. Our commitment to delivering high-quality, reliable products ensures that South Africans can leverage the latest technology to achieve their personal and professional goals.”
Lenovo’s innovation investment is focused on AI, specifically building a foundational AI technology platform, driving breakthroughs in agentic AI, as well as continuously developing technologies and their applications into products.
It is leading in personal AI with its AI device innovations, while at the same time proactively leveraging hybrid infrastructure and the Lenovo Hybrid AI Advantage to build enterprise AI.
It believes the current AI boom is creating enormous opportunities for devices, infrastructure, and services, as higher inferencing efficiency and lower computing power cost is democratizing the application of AI.
“Aligned with the group’s hybrid AI strategy, this will not only accelerate the maturity process of device AI and edge AI, but also promote and accelerate the deployment, customization, and Return on Investment (ROI) of enterprise AI.”
Looking ahead, Lenovo remains committed to driving growth through continued investment in hybrid AI innovation. With strong momentum demonstrated in the third quarter, Lenovo is optimistic about sustaining its growth and profitability.
