Lenovo Group Announces 2023/24 Fiscal Year Results

TapTechNews May 23rd news, Lenovo Group today announced the fourth quarter and full-year results of the 2023/24 fiscal year.

All of Lenovo Group's main businesses showed year-on-year growth in the fourth quarter. The overall revenue increased by 9% to $13.8 billion (TapTechNews note: currently about 100.05 billion yuan). The net profit doubled year-on-year to $248 million (currently about 1.798 billion yuan). The revenue share of businesses other than personal computers expanded to nearly 45%, a record high. The total revenue for the full year was $56.9 billion (currently about 41.2525 billion yuan), and the net profit was $1 billion (currently about 72.5 million yuan).

Here are the revenue situations of Lenovo's three major business groups:

Solutions & Services Group (SSG): The revenue in the fourth quarter increased by more than 10% year-on-year to $1.8 billion, and the profit margin exceeded 21%, achieving double-digit growth in both revenue and profit margin for 12 consecutive quarters. The revenue for the entire fiscal year was $7.5 billion, an increase of 12% year-on-year, and the profit margin was nearly 21%.

Infrastructure Solutions Group (ISG): The revenue resumed growth in the fourth quarter, increasing by 15% year-on-year to $2.5 billion, setting a historical high in the fourth quarter. The storage, software and service businesses all achieved rapid growth, and the total revenue increased by more than 50% year-on-year. The high-performance computing business revenue set a new high. ISG achieved year-on-year revenue growth for three consecutive quarters throughout the year, setting the second-highest full-year revenue level in history.

Intelligent Devices Group (IDG): Lenovo achieved a 22.9% global market share in the personal computer market. The revenue in the fourth quarter was $10.5 billion, and the revenue for the full year was $44.6 billion. Among the five global market regions, Lenovo's personal computer business ranked first in four market regions and set a new high in market share in the North American market. The mobile phone business achieved significant growth, with both shipments and revenue achieving double-digit growth, higher than the average market growth rate.