PC maker Lenovo India has reported 38 per cent growth in revenue to $2.2 billion (about Rs 17,000 crore) in the financial year ended March 2022.
The growth was supported by nearly doubling the volume of PCs and smartphones manufactured in India, while locally manufactured tablets grew manifold, the company said on Thursday.
“Total revenue for all Lenovo businesses in India for the full fiscal year ended March 31, 2022 was $2.2 billion, representing a year-on-year growth of 38 percent,” it said in a statement.
According to market research firm IDC, Lenovo’s shipments grew by 20.5 per cent to 7.52 lakh PC units and had a market share of 17.6 per cent in the March quarter of 2022.
“Our 38 per cent growth in revenue for FY 2021-22 clearly shows that Lenovo is meeting the growing need for transformational technology solutions in India. Additionally, our service-led transformation strategy this year saw a growth of 58 per cent. We have shown solid results with the growth of our services booking revenue,” said Shailendra Katyal, Managing Director, Lenovo India.
According to IDC, Lenovo saw its second biggest quarter among small and medium businesses, where its shipments grew by 37.5 percent to nearly 2 million units.
Katyal said, “In every sphere of society – be it education, healthcare, manufacturing, retail, entertainment or any growing industry in India – Lenovo’s technology enables people to live, work, play and study better. helping me.”
Lenovo Group’s net income grew 72 per cent year-on-year to $2 billion and revenue in the second year grew by $10 billion (approximately Rs 77,603 crore) to over $71 billion (approximately Rs 5,50,981 crore).
“All core business groups were profitable for the full fiscal year — with strong growth momentum in the mobile, infrastructure, and solutions and services businesses,” the company said.