Lenovo Group Financial Report: Lenovo's revenue in Q3 of fiscal year 2024/25 was RMB 135.1 billion, a year-on-year increase of 20%

Lenovo Group released its third quarter results for the 2024/25 fiscal year ending December 31, 2024. The financial report shows that Lenovo Group achieved revenue of RMB 135.1 billion in the quarter, a year-on-year increase of 20%, and net profit increased by 106% year-on-year to RMB 4.98 billion in accordance with Hong Kong Financial Reporting Standards. Among the main businesses, the intelligent device business (IDG) performed particularly well, with revenue of RMB 99.1 billion, a year-on-year increase of 12%, and an operating profit margin of 7.3%.

This growth is mainly due to the new round of update cycle in the current PC market and the local terminal AI deployment boom triggered by AI models such as DeepSeek. Lenovo Group's PC business increased its global market share to 24.3% in the quarter.

The smartphone business also maintained growth in the third fiscal quarter, with revenue increasing by 21% year-on-year. Revenue in the Asia-Pacific region and the Europe-Middle East-Africa market increased by 155% and 28% year-on-year respectively, and revenue in the Chinese market increased by 156% year-on-year. The proportion of revenue from high-end products increased to more than 30%.

The Infrastructure Business Group (ISG) turned a profit in this fiscal quarter, with revenue increasing by nearly 60% year-on-year to RMB 28.3 billion.

The Solution Services Business Group (SSG) had revenue of RMB 16.2 billion, a year-on-year increase of 12%, and an operating profit margin of 20.4%. Non-hardware-driven operation and maintenance services and project and solution services accounted for nearly 60% of SSG's overall business, a record high.

Zikuai Technology