Lenovo Delivers Another Record Business Year Results

Lenovo announced record fiscal year results for the Group, with historic highs for both profit and revenue. Annual net income reached the $2 billion mark, up 72% year on year, with revenue growing by $10 billion for the second year running to over $71 billion.

All main business groups were profitable for the full fiscal year with strong growth momentum in mobile, infrastructure, and solutions and services businesses. Lenovo successfully overcame macro-environmental challenges and demonstrated both agility and resilience as it navigated industry-wide supply shortages, pandemic disruption, geopolitical uncertainties, and higher inflation to deliver a record year. Lenovo’s Board of Directors declared a final dividend of 3.8 US cents or 30.0 HK cents per share for the fiscal year ended March 31, 2022.

Lenovo said in a statement that the Group continued to strengthen its competitiveness to drive sustainable profitable growth. It has already made strong progress toward doubling R&D investments within three years from the fiscal year 2021/2022, up 43% year on year to $2 billion, and will continue to realize its ESG goals and commitments. The company is confident that by leveraging its clear strategy, competing with its unique competitive advantage of the global-local model, and the right balance between innovation and efficiency, it can overcome any challenges to capture opportunities.

“Although last year was challenging for the world, with the accelerated global digital and intelligent transformation, Lenovo delivered a record year of profit and revenue,“ said Yuanqing Yang, Lenovo Chairman, and CEO. “All our main businesses are now profitable for the full year, and our new growth engines - SSG, ISG, and Mobile - are showing strong momentum. We will capture this window of opportunity, double our R&D investment, drive service-led transformation, realize our ESG goals, and stay flexible and resilient to bring the entire company to new heights.“