Wednesday, October 20, 2021

Lenovo has earned $60 billion for its 2020-21 fiscal year

Lenovo posted more than $60 billion for its most recent fiscal year (2020-2012). Electronics also reported a record net profit of $260 million or 512% compared to 2019-20 on a core basis. The company marks this growth in the gaming PC, Chromebook, business, and tablet markets.

Lenovo has reported its financial performance for the most recent fiscal year (4FQ2020-21) and year (FY2021). The company claims a total of US$60.74 billion for this year, which is unprecedented for this EM. Its profit is $260 million compared to $43 million in the previous year.

Lenovo celebrated the “best fourth quarter of all time” for its PC and smart devices segment, which accounted for nearly one-fifth of its earnings for the year ($ 12.4 billion or +46% year-on-year (YoY)). The company’s mobile business group also showed 86% YoY growth, with revenue of $1.44 billion and pre-tax profit of £ 12 million, the company said, adding that it was the department’s best earnings after merging with Motorola.

Similarly, Lenovo’s data centre group grew 32% year-over-year, and it shipped another 157% of tablets via YoY. These often “record-breaking” results come from a year where OEM topped the market by increasing the demand for remote work and educational devices.

The company further claims that its more common segments, including gaming PCs, ultrabooks, and monitors, all “surpassed the market” in 2020-21 and increased at an impressive “double to triple-digit” rate.

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