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Lenovo posts "record-breaking" revenues and profits for its latest fiscal year

A new ThinkPad X1 Yoga. (Source: Lenovo)
A new ThinkPad X1 Yoga. (Source: Lenovo)
Lenovo now claims to have ended its latest fiscal year (on March 31, 2022) with US$10 billion more in terms of revenue compared to the last. The company has also declared net profits of just over $2 billion (or 72% more year-on-year (YoY)). It attributes this success to pretty much all areas of its business, particularly its enterprise-focused and services arms.

Lenovo has just reported "historic" growth in its profits and takings for its latest fiscal year (FY21/22), including revenues that have grown 18% YoY to a new all-time high of $71.62 billion, as well as net profits that have shot up to $2.03 billion, compared to $1.18 billion in FY20/21.

The OEM credits all areas of its company with contributions to this apparently record-smashing growth, particularly its Mobile arm as well as its Solutions and Services and Infrastructure Solutions Groups (or SSG and ISG respectively).

This, according to Lenovo, is due to the prevailing urge among businesses everywhere for increased "digitalization", which is where the SSG and ISG come in, perfectly positioned to step in and fulfil this demand.

In addition, Lenovo may be able to attribute some of its success to the ability to diversify into areas such as the smart office or home, with new products such as Yoga-brand lamps or projectors to go with that new work laptop or convertible.

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Lenovo Press Release

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> Expert Reviews and News on Laptops, Smartphones and Tech Innovations > News > News Archive > Newsarchive 2022 05 > Lenovo posts "record-breaking" revenues and profits for its latest fiscal year
Deirdre O'Donnell, 2022-05-26 (Update: 2022-05-26)