AsianFin -- Lenovo reported a 20% increase in third-quarter revenue, signaling a positive shift in the global personal computer market as it begins to recover.
For the quarter ending December 31, the Chinese tech giant generated $18.8 billion in revenue, surpassing analysts' expectations of $17.82 billion, according to LSEG data.
Net profit for the period reached $693 million, significantly higher than the anticipated $367.7 million.
Although the global PC market is still dealing with post-pandemic uncertainty, it saw modest growth of 1.8% in shipments during Q4 of 2024, as reported by research group IDC.
Lenovo retained its position as the world’s largest PC vendor, securing a 24.5% market share and achieving a 4.8% growth in shipments, according to IDC.
In recent years, Lenovo has broadened its business beyond PCs, venturing into software and services. Additionally, it is strategically positioning itself to capitalize on the growing demand for artificial intelligence (AI) by expanding its AI server offerings.
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