Lenovo Group (announced record results for the Group for both its fourth quarter and fiscal year, with phenomenal growth across all parts of the business. The results demonstrate the Group’s resilience and ability to achieve balanced, consistent, and sustainable growth as it continues to diversify and transform in line with its 3S (Smart IoT,Smart Infrastructure, Smart Solutions) corporate strategy.
Fourth quarter Group revenue grew at 48% year-to-year to US$15.6 billion. Profit recorded its highest growth rate in two years – with pre-tax income of US$380 million and net income of US$260 million – up392% and 512% respectively. The Q4 results closed out a record year, with annual Group revenue surging past US$60 billion, adding more than US$10 billion on the previous fiscal year. Profit grew even faster, with pre-tax income of almost US$1.8 billion and net income of US$1.2 billion – both up more than 70%year-on-year.
In India, Lenovo saw steady growth throughout the past fiscal year and delivered an exceptionally strongQ4. Total revenue for all Lenovo businesses in India was US$1.66 billion for the full year ended March 31,2021, representing year-on-year growth of 14.5 percent, and US$399.5 million for Q4, representing year-on-year growth of 76.9 percent.
“We saw strong demand across businesses in India over the past four quarters. As individuals, companies and institutions address the demands of the ongoing pandemic, they are transforming their relationship with technology,” 
said Shailendra Katyal, Managing Director, Lenovo PCSD India and Site Leader, Lenovo India. “With our comprehensive technology services, our broad range of devices, and infrastructure solutions, Lenovo is supporting this transformation. We are expediting the adoption of hybrid work systems, the digitization of core industries, and further educational opportunities. “
Chairman and CEO quote – Yuanqing Yang:
“Last quarter, we delivered our fastest growing quarter in almost a decade and closed the fiscal year with the new milestone of passing US$60 billion in revenue and significant growth in profit to anew record. These historic highs were achieved by leveraging our core competencies of a clear strategy, innovative products, operational excellence, and global-local model to meet the new needs in the New Normal.” said Yuanqing Yang, Lenovo Chairman and CEO. “Looking forward, we will capture the hugegrowth opportunities created by the market trends of information consumption upgrade, infrastructure upgrade and application upgrade to drive long-term sustainable growth and ensure we can build an evensmarter future in the years ahead.
