by TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – LENOVO Group has announced profitability year-on-year for the tenth consecutive quarter.
Lenovo Southern Africa dominated the local personal computer (PC) market with 24,8 percent in the second quarter (Q2) for the full year (FY) 22/23.
It has come up as the number one technology company amongst its competitors.
The business’s performance has been consistent with the Q1’s FY22/23 results and depicts a healthy growth in market share.
All main businesses contributed positive operating profit, demonstrating further progress towards the Group’s goal of doubling profitability in the medium-term.
Additionally, the diversified growth engines continued to drive strong performance with both the solutions and services business, as well as the infrastructure business, seeing high double-digit year-on-year growth.
Non-PC businesses now make up more than 37 percent of total group revenue.
Yugen Naidoo, General Manager of Lenovo, Southern Africa, said following a volatile period affected by the pandemic, Lenovo had impressively maintained market leadership in South Africa, thanks to its strong performance, particularly in the Consumer and Enterprise business units.
“I am proud to say that according to IDC preliminary reports Lenovo Intelligent Devices Group in South Africa holds the no.1 position in terms of market share standing at 24,8 percent which mirrors our global market share leadership.”
Lenovo is a US$70 billion revenue global technology powerhouse.
– CAJ News