Lenovo posts strong growth in fiscal Q4

Chinese tech heavyweight Lenovo Group Ltd on Thursday announced record financial results for its fiscal fourth quarter ended in March, with revenue growing at 48 percent year-to-year to $15.6 billion on the back of growth across all parts of its business.

Its profit also posted the highest growth rate in two years – with pre-tax income of $380 million and net income of $260 million – up 392 percent and 512 percent respectively.

Yang Yuanqing, chairman and CEO of Lenovo, said: "Last quarter, we delivered our fastest-growing quarter in almost a decade and closed the fiscal year with the new milestone of passing $60 billion in revenue and significant growth in profit to a new record."

"These historic highs were achieved by leveraging our core competencies of a clear strategy, innovative products, operational excellence, and global-local model to meet the new needs," Yang said.

"Looking forward, we will capture the huge growth opportunities created by the market trends of information consumption upgrades, infrastructure upgrades and application upgrades to drive long-term sustainable growth and ensure we can build an even smarter future in the years ahead," the senior executive said.