Lenovo Group announced its results for the third quarter of the 2020/21 fiscal year, and both turnover and profit hit record highs. Among them, the PC business continued to expand its leading edge, with a market share of 42.3%, setting a historical record, and achieving rapid growth for three consecutive fiscal quarters.
On February 3, Lenovo Group announced the results of the third fiscal quarter for the 2020/21 fiscal year. Both turnover and profit hit a record high and handed over a record of the most burning report in history: turnover reached 114.2 billion yuan, a year-on-year increase of 22.3%; Net profit was 2.6 billion yuan, a year-on-year increase of 53.1%.
Lenovo’s business performance in China is outstanding, and breakthroughs have been made in two major transformations: customer-centric, smart products and smart services. The PC business continued to expand its leading edge, with a market share of 42.3%, setting a record, and achieving rapid growth for three consecutive fiscal quarters at the same time; smart products and smart service businesses continued to make breakthroughs, with rapid growth in performance, with significant year-on-year growth of 74% and 57% , Smart service has entered the first camp in the industry.
According to previous IDC data, in the Q3 fiscal quarter, Lenovo’s PC market share in China reached 42.3%, a record. In the 20/21 fiscal year, Lenovo’s Q1 and Q2 fiscal quarter growth rates reached 13.9% and 17.8%, respectively, and in Q3 fiscal quarter growth rate reached 30.4%, becoming the fastest-growing PC manufacturer.
IDC predicts that the Chinese PC market will enter a period of steady growth in the next three years, with growth of 5.1%, 3.7%, and 4.1% from 2021 to 2023. As PCs, mobile phones, IoT and other smart products enter a growth period, and the proportion of smart education in the K12 education informatization is increasing, the market demand for PCs (including tablets) will continue to grow. In addition, with the digitization and intelligence upgrade of individuals, families, and enterprises, it will also drive the further growth of PCs.