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Lenovo thunders past US$60 billion in revenue for its 2020-21 fiscal year

Lenovo aims for further success. (Source: Lenovo)
Lenovo aims for further success. (Source: Lenovo)
Lenovo has posted takings of just over US$60 billion for its latest fiscal year (2020-2021). The electronics mainstay has also reported record net profits of $260 million, or 512% compared to 2019-20. The company attributes this growth to its place in the gaming PC, Chromebook, business and tablet markets.

Lenovo has reported its fiscal performance for its latest full fiscal quarter (4FQ2020-21) and year (FY2021). The company claims to have made a total of US$60.74 billion for this year, a figure unprecedented for the OEM. Its profits after tax of $260 million, compared to $43 million from the previous year.

Lenovo also celebrated the "best fourth quarter ever" for its PC and Smart Devices division, which made about a fifth of its revenue ($12.4 billion, or +46% year-on-year (YoY)) for the year. The company's Mobile Business Group also exhibited an 86% YoY growth, with earnings of US$1.54 billion and pre-tax profits of £12 million, which, as the company notes, is the division's best income since it merged with Motorola.

Similarly, Lenovo's Data Center Group grew 32% year-on-year, while it also shipped 157% more tablets YoY. These often "record-breaking" results come from a year in which the OEM held top positions in markets boosted by the surge in demand for remote working and education devices.

The company also claims that its more traditional categories, gaming PCs, ultrabooks and monitors included, all served to "outgrow the market" in 2020-21, and also grew at impressive "double to triple-digit" rates.

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> Expert Reviews and News on Laptops, Smartphones and Tech Innovations > News > News Archive > Newsarchive 2021 05 > Lenovo thunders past US$60 billion in revenue for its 2020-21 fiscal year
Deirdre O'Donnell, 2021-05-30 (Update: 2021-05-30)