The world's leading PC maker reports a surge in sales in China, Europe, the Middle East and Africa as businesses shift to remote work during coronavirus pandemic
A signpost shows the locations of buildings of Chinese tech firms Tencent, Lenovo, Baidu and others in Beijing, in Beijing, China. Picture: REUTERS/THOMAS PETERLenovo Group, the world's biggest personal computer maker, smashed expectations with a 31% leap in first-quarter net profit, as the coronavirus pandemic spurs businesses to shift to remote work and schools to switch to online learning.
Net profit came in at $213m for the April-June quarter, nearly double market estimates while revenue grew 7% to $13.3bn. “Chinese government is driving domestic consumption — for sure we should leverage that to grow our business. Last quarter results can prove that we have very strong position in China,” Lenovo chair Yang Yuanqing told a briefing.
He said Lenovo's sales during China's June 18 shopping festival — which is heavily promoted by e-commerce platforms — had doubled over the previous year. “We really see the strong rebound after the Covid-19,” he said.
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