Chinese PC maker Lenovo has announced its return to double-digit revenue growth, which is viewed as a rare achievement for the PC manufacturers in this rather stagnant marketplace for PCs globally.
Lenovo which is a company situated in China and also responsible for the manufacturing of the Motorola brand of mobile phones recently experienced a great turnaround in its revenue generation from its PC’s leading to a whopping 19% rise year-on-year which amounts to $11.9bn equivalent to £9.4bn. Their profits increased above estimates of $72m to $77m all of these developments which took place last year within the same period, within this period the manufacturers have announced a rise of 19% in its revenue growth.
According to analyst from a research firm, Gartner, they placed the Chinese PC maker ‘Lenovo’ as the number one PC manufacturers in the world with exciting rankings of 86 per cent out of 100 per cent with nail-biting competition from other manufacturers like HP and DELL (having 85 and 82 per cent ratings respectively).
With these recent occurrences made by this company, Lenovo has made an abrupt turnaround and made the entrance into a whole new phase of development and growth with all thanks attributed to their new strategies that yielded impressive results and their relentless focus on “intelligent transformation” within the quarter. Lenovo’s brilliant idea of centralising essential business ventures into modern, advanced enterprise, together with a priority on dynamic revenue generators, are altogether yielding good profits for the company.
During the last quarter, Lenovo made known the creation of its Intelligence Devices Group joining together its personal computer and smart devices group with its mobile group. Reviewing the various ways these groups and the different ways their devices work and interact with the customers led to the double-digit IDG, quarterly revenue growth year-over-year and PC unit market revenue gains in every locality. While all this is going on, Lenovo is also capitalising on global growth regarding latest software and services.
The Lenovo manufacturers have battled with turnaround of its performance amidst slow global market for PCs and slightly decreasing smartphone sales, while its high-end PC “The Lenovo IdeaPad remain so very important, the acquisition of Motorola from Google in 2014 for $2.9 was expected to help in boosting the revenue coming into the company as witnessed in the mid-2000s.
Moreover, the company has experienced some success in the marketplace of India, Brazil, and Russia where its range of smartphone “Moto G5 and Moto Z” were reviewed by critics referring to the models as “mid-range smartphones.”
In an interview conducted by The Telegraph sometime last year, The CEO of the company, Yuanqing, revealed that he is optimistic that the smartphones will become a huge success the following year, “I strongly believe our competitiveness is much stronger than before,” Yang said. “Probably we are more efficient than Samsung are, we can be more competitive. Now I’m more confident this will be another successful acquisition.”