Lenovo Doubles Its Global Profit In A Market That Expects To Continue Growing

The collateral effects of the pandemic are noticeable in the new technologies sector, with special incidence in the business of sale of computer equipment. The teleworking phenomenon, which is presumed to be no turning back, continues to favor the leaders of a business, all of whom are subscribed to double-digit growth.

This is the case of Lenovo, a world benchmark in the sector, which in the first half of the year reaps new records in turnover, with increases of 27% in the last quarter in year-on-year terms, up to 16,929 million dollars, a magnitude that places the group at the top 15 of the world’s technology companies.

The group’s profit has more than doubled in the last twelve months, (119% more), to 466 million dollars, compared to 213 million dollars in the first quarter of 2020. Profitability before taxes remains the same ascending line than the rest of the main accounting figures, with a year-on-year increase of 96%, to 650 million dollars.

“These are the best results of the last five years, with a sales record and the best profit margin for the company, already touching the ‘break even'”, as Alberto Ruano, CEO of Lenovo Iberia, explained to through a telematic press conference.

The same manager has perceived that “the client values ​​the ‘Premium PC’ more and more compared to the ‘PC price’, which is offering us greater profitability and a better brand perception”. At the same time – he added – we perceive new opportunities through smart home devices, in addition to IoT, infrastructures and services “.

Alberto Ruano: “After a year of pandemic and records, an accordion effect is not appreciated in the short term”
According to Ruano, “after a year of pandemic, Lenovo continues to break revenue records, once the market continues to grow and without a short-term accordion effect.” As he has acknowledged to questions from elEconomista.es, “the professional market is still ‘on fire’ and that we have not yet received European funds, which include heavy investments in technology”.

In the case of the Spanish market, the market share of the technology manufacturer stands at 29.6%, three points more than a year ago. On the contrary, participation in the business as a whole in Portugal has been reduced by half in the last quarter due to supply problems. Likewise, in the EMEA region, Lenovo maintains the same market share as a year ago, with the leadership conferred by the current 25.6%.

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