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Lenovo, the Chinese technology company and the world’s largest computer maker, posted a net profit of $243 million in the first quarter, up 38% year-on-year.
In a statement yesterday to the Hong Kong stock exchange, where it is listed, the company also reported a 20% rise in revenue to $15.447 billion, beating analysts’ forecasts of about $14.16 billion.
Lenovo’s performance this quarter was boosted by its ability to seize “unprecedented opportunities” in hybrid artificial intelligence (AI) and its “continued success in its service-oriented transformation,” the statement said.
According to the data released, Lenovo sold 14.7 million computers from April to June, up 3.7% year-on-year. This brought its market share to a world-leading 22.7%, up from 22.5% a year ago.
Turnover from activities outside of PCs reached record levels, accounting for 47% of total turnover.
Looking ahead, the firm continues to see artificial intelligence as a big bet, saying its integration with computers will boost the market and lead to a “long-term recovery beyond pre-pandemic levels.”
The company again cited predictions that by 2027, nearly 60% of computers sold will include AI capabilities.
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