Lenovo’s profit beats expectations, aided by the tendency to work remotely

Lenovo strengthened its lead on PCs by 25.7% in the market, ahead of HP Inc and Dell Technologies with 21.6% and 15.2%, respectively.

China’s Lenovo Group, which makes up the world’s largest PC, posted a quarterly profit than expected on Tuesday and said it continued to benefit from “new standard” remote operation after the COVID-19.

The Chinese giant said it set new records for the group’s revenue, pre-tax and income, with all three key businesses bringing annual growth for the first time in six quarters.

Lenovo reported a 53% increase in quarterly profits ending September to $ 310 million, surpassing the analyst’s estimated $ 224 million, according to Refinitiv data.

Revenue increased by 7% to $ 14.5 billion.

As the epidemic forces companies around the world to seek out domestic options and homeowners, the company expects to benefit from increased sales of PCs and tablets.

“Our gaming PCs and our smaller and lighter PCs actually grow margin faster than other products,” Yang said.

According to research company Gartner, global exports of personal computers increased by 3.6% in the July-September quarter, due to domestic entertainment and distance learning needs, as well as strong growth in the U.S. PC market. In ten years.

Yang predicted that there would be a 5% to 10% increase in the total market share of PCs next year.

Yang said the lack of supply, especially exhibition and integrated circulation, keeps the company in meeting 100% customer demand.

“The issue is not necessary, it is provided. If we can fill in enough, we can sell other products,” he said.

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