Lenovo Establishes New Solutions & Services Group
Lenovo will establish a new organizational structure designed to capitalize on the Group’s service-led transformation growth opportunities. Effective April 1, 2021, Lenovo will bring together services and solutions teams and capabilities from across the company to form a dedicated organization, the new Solutions & Services Group (SSG).
SSG is set to further drive the company’s transformation by delivering incremental business across smart verticals, attached services, managed services and ‘as a service offerings’ including DaaS (Device as a Service) and Truscale. In the company’s third quarter results, released on February 3, 2021, Lenovo’s total Software and Services revenue* stood at record US$1.4 billion in the third quarter of FY20/21, over 8% of total group revenue.
Revenue from Attached Services, Managed Services and Solution Services achieved year-on-year growth of nearly 26%, 73% and 49% respectively, while Device-as-a-Service delivered high double-digit growth (74%) year-on-year. These results demonstrate the significance of Intelligent Transformation as a long-term growth catalyst for the Group. Looking ahead the Group sees opportunities to leverage its experience and capabilities to build smart manufacturing, smart education, and smart healthcare solutions.