• Nigerian/African Tech
  • Start Up
  • Internet
    • App
    • Mobile
    • Software
  • Gadgets
  • Money
  • Video
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content

Lenovo In Record $466 Million Net Profit As Demand For Premium PCs Intensifies

Ayoola by Ayoola
August 11, 2021
Home Enterprise
Share on FacebookShare on Twitter

The Lenovo group has in the first quarter of June more than doubled its net profit, moving from $213 million it made from 2020 to a record $466 million in June 2021.

Also On TechBooky

Microsoft SharePoint Is The Solution That Organization Expects Today

Egypt’s Mylerz Raises $9.6m To Scale Its E-commerce Fulfilment Operations

Nigeria’s Identitypass Gets $2.8m In Seed Funding For Identity Verification API

Coinbase Q1 Earnings Disappoint And It’s Got People Using The “B” Word

Crypto: KuCoin Raises Pre-Series B Of $150m At A $10b Valuation

The exponential profit growth may not be unconnected with a spiralling demand by consumers for Personal Computers (PCs).

Lenovo who is the biggest maker of personal computers had confirmed that following the recovery of the commercial market, it has 27 percent annual revenue growth of up to $16.9 billion, a massive one for the China group.

With the COVID-19 pandemic making working from home inevitable, the demand for PCs skyrocketed, causing the shares in the company rising up as high as 9.7 percent, the highest biggest daily percentage gain since march 30th, with the revenue rising from $13.3 billion to $16.9 billion a year before.

Lenovo also posted a 2.8 percent net income margin, its highest in years, while adding that Information technology recovery had fuelled demand and supported the average selling price of its products, with the PC market projected to continue its exponential growth over the  next five years.

In the words of Lenovo’s Chief Executive, Yuanqing Yang :

 “The accelerated digital and intelligent transformation has created significant market opportunities globally. We will continue to increase R&D investment, aiming to double it over the next three years”.

The net profit and income results were actually the first earnings Lenovo released since its February business group reorganization, although industry analysts are of the opinion that the demand for PC’s due to the Coronavirus pandemic has started to reduce, with computer system components shortage a worldwide concern.

Research firm, Canalys  in a report last month inferred that in the second quarter of 2021, shipments of Pc’s around the world spiking up to 13 percent increase to hit about 82.3 million units, with desktop shipments growing for the first time since the fourth quarter of 2019.

Canalys further added that Lenovo taking advantage of the opportunity , extended  its industry lead, with it shipping more than 20 million units for the third year in a row, to grab a 24.4 percent market share, as against HP Inc and Dell which had 22.6 percent and 17 percent respectively.

Related Posts:

  • Lenovo Says It Will Hike Prices Of Products To Absorb US Tariff Fallout
    Lenovo Says It Will Hike Prices Of Products To Absorb US…
  • Microsoft Profit Driven By Cloud Growth Increases 24% In Q3
    Microsoft Profit Driven By Cloud Growth Increases 24% In Q3
  • Amidst Operating Losses, Jumia Records $25.5 Million In Profits In Q3
    Amidst Operating Losses, Jumia Records $25.5 Million In…
  • Samsung Looks To Be Cashing In As Huawei US Ban Continues To Take Effect
    Samsung Looks To Be Cashing In As Huawei US Ban Continues To…
  • Samsung Poised To Report Best Q4 Earnings As Chip Demand Rises
    Samsung Poised To Report Best Q4 Earnings As Chip Demand…
  • Rovio Entertainment Sees Its Revenue Jump, Primarily Drive By  Angry Birds
    Rovio Entertainment Sees Its Revenue Jump, Primarily Drive…
  • Spotify Now Has 381m Monthly Active Users And 172m Paid Subscribers
    Spotify Now Has 381m Monthly Active Users And 172m Paid…
  • Access Bank Income Via  E-Channels Rises By 37% To $73M
    Access Bank Income Via E-Channels Rises By 37% To $73M
Tags: earningsenterpriselenovoprofits
Previous Post

iOS 15 Plans To Link AirPods With Apple ID To Bolster Find My Network

Next Post

StarHub And Gigabyte’s Servers Hit By Ransomware In New Wave Of Cyberattack

Ayoola

Ayoola

Ayoola Faseyi, an Abuja based Journalist with interest in Technology and Politics. He is a versatile writer with articles in many renowned News Journals. He is the Co-Founder of media brand, The Vent Republic.

Next Post
StarHub And Gigabyte’s Servers Hit By Ransomware In New Wave Of Cyberattack

StarHub And Gigabyte’s Servers Hit By Ransomware In New Wave Of Cyberattack

BROWSE BY CATEGORIES

Receive top tech news directly in your inbox

Loading

Recent

Technology Helps Establish Skills for Developing Young Minds

Technology Helps Establish Skills for Developing Young Minds

May 13, 2022
Microsoft SharePoint Is The Solution That Organization Expects Today

Microsoft SharePoint Is The Solution That Organization Expects Today

May 13, 2022
Elon Musk Has Put The Twitter Deal On Hold Over “Fake Accounts”

Elon Musk Has Put The Twitter Deal On Hold Over “Fake Accounts”

May 13, 2022
Digital Collectables Marketplace On Polygon Blockchain Now Available For Instagram And Facebook

Digital Collectables Marketplace On Polygon Blockchain Now Available For Instagram And Facebook

May 12, 2022
Egypt’s Mylerz Raises $9.6m To Scale Its E-commerce Fulfilment Operations

Egypt’s Mylerz Raises $9.6m To Scale Its E-commerce Fulfilment Operations

May 12, 2022
Nigeria’s Identitypass Gets $2.8m In Seed Funding For Identity Verification API

Nigeria’s Identitypass Gets $2.8m In Seed Funding For Identity Verification API

May 12, 2022
Google Maps To Get All New Immersive View Of The World

Google Maps To Get All New Immersive View Of The World

May 12, 2022
Google Pixel 7 And Pro Will Be Coming This Fall

Google Pixel 7 And Pro Will Be Coming This Fall

May 12, 2022
Google Shows Off AR glasses At I/O  2022

Google Shows Off AR glasses At I/O 2022

May 12, 2022
Google Finally Announces The Pixel Watch At I/O 2022

Google Finally Announces The Pixel Watch At I/O 2022

May 12, 2022

Browse Archives

May 2022
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
3031 
« Apr    

Receive top tech news directly in your inbox

Loading

About Us

TechBooky

TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

Subscribe to TechBooky

Enter your email address to subscribe to TechBooky and receive notifications of new posts by email.

Join 17,987 other subscribers.

Popular Tags

AI (222) android (257) app (526) Apple (417) artificial intelligence (228) business (254) china (110) cloud (124) cryptocurrency (131) ecommerce (104) enterprise (224) facebook (458) gadget (377) gaming (143) google (518) government (358) guest post (108) instagram (129) internet (314) ios (215) iphone (176) microsoft (248) mobile (245) new feature (234) nigeria (263) privacy (123) research (131) samsung (124) security (343) smartphone (198) social media (623) software (361) startup (228) streaming (125) telecom (152) tips (305) transport (98) twitter (190) uber (88) united states (176) users (90) videos (104) website (135) whatsapp (123) youtube (98)

Quick Links

  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

Popular Post

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
How Can We Unlock VBA Project Password Without Hex Editor?

How Can We Unlock VBA Project Password Without Hex Editor?

December 23, 2020
The M2 Chip From Apple And The New Computers They Will Likely Power Revealed In New Leak

The M2 Chip From Apple And The New Computers They Will Likely Power Revealed In New Leak

April 15, 2022
Recover Deleted Messages from Thunderbird Email

Recover Deleted Messages from Thunderbird Email

April 7, 2020
[Fixed] “Outlook Running Slow Windows 10” Issue

[Fixed] “Outlook Running Slow Windows 10” Issue

February 12, 2020
Top 2 Methods To Convert CSV To vCard/VCF In 2022

Top 2 Methods To Convert CSV To vCard/VCF In 2022

February 2, 2022
Samsung Unveils New Mid-range Devices With Expanded Batteries

Samsung Unveils New Mid-range Devices With Expanded Batteries

March 18, 2022
Technology Helps Establish Skills for Developing Young Minds

Technology Helps Establish Skills for Developing Young Minds

May 13, 2022
Microsoft SharePoint Is The Solution That Organization Expects Today

Microsoft SharePoint Is The Solution That Organization Expects Today

May 13, 2022
Elon Musk Has Put The Twitter Deal On Hold Over “Fake Accounts”

Elon Musk Has Put The Twitter Deal On Hold Over “Fake Accounts”

May 13, 2022
Digital Collectables Marketplace On Polygon Blockchain Now Available For Instagram And Facebook

Digital Collectables Marketplace On Polygon Blockchain Now Available For Instagram And Facebook

May 12, 2022
Egypt’s Mylerz Raises $9.6m To Scale Its E-commerce Fulfilment Operations

Egypt’s Mylerz Raises $9.6m To Scale Its E-commerce Fulfilment Operations

May 12, 2022
Nigeria’s Identitypass Gets $2.8m In Seed Funding For Identity Verification API

Nigeria’s Identitypass Gets $2.8m In Seed Funding For Identity Verification API

May 12, 2022

Recent News

Technology Helps Establish Skills for Developing Young Minds

Technology Helps Establish Skills for Developing Young Minds

May 13, 2022
Microsoft SharePoint Is The Solution That Organization Expects Today

Microsoft SharePoint Is The Solution That Organization Expects Today

May 13, 2022
Elon Musk Has Put The Twitter Deal On Hold Over “Fake Accounts”

Elon Musk Has Put The Twitter Deal On Hold Over “Fake Accounts”

May 13, 2022
Digital Collectables Marketplace On Polygon Blockchain Now Available For Instagram And Facebook

Digital Collectables Marketplace On Polygon Blockchain Now Available For Instagram And Facebook

May 12, 2022
Egypt’s Mylerz Raises $9.6m To Scale Its E-commerce Fulfilment Operations

Egypt’s Mylerz Raises $9.6m To Scale Its E-commerce Fulfilment Operations

May 12, 2022
Nigeria’s Identitypass Gets $2.8m In Seed Funding For Identity Verification API

Nigeria’s Identitypass Gets $2.8m In Seed Funding For Identity Verification API

May 12, 2022
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact us
  • Privacy Policy
  • Disclaimer
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

© 2021 Design By Tech Booky Elite

Posting....