Personal computer maker Lenovo delivers strong performance

Lenovo Group Ltd, the world's largest personal computer maker, has reported a strong financial performance for the last quarter of 2024.

The Beijing-based company said revenue in the quarter, which ended on Dec 31, grew 20 percent year-on-year to $18.8 billion, marking the third consecutive quarter of double-digit growth as its investment in AI drives businesses forward. Net income more than doubled year-on-year to $693 million.

Yang Yuanqing, chairman and CEO of Lenovo, said: "Lenovo's revenue and profit both achieved significant growth last quarter, with strong performance across all core businesses. Notably, the infrastructure solutions business returned to profitability and the smartphone business experienced rapid growth."