Lenovo: Fiscal 2FQ24 Financial Results

Global revenue of Lenovo Group Limited in 2FQ24 reached $14.4 billion down 16% Y/Y with net income at $273 million down 54%.

The Chinese company has 3 business groups:
– Infrastructure Solutions Group, renamed from DCG, Data Center Group, including its storage activity
– Solutions and Services Group
– Intelligent Devices Group

Storage revenue was all-time high for 2FQ24, up 46% Y/Y, but the figure of its sales were not divulgued.

The firm is the 3rd WW largest storage supplier by global revenue market share (probably behing Dell and NetApp. Ed.), an advancement of 5 positions from a year ago, ≠1 in price bands of $25,000 and below, ≠2 in price bands of $100,000 and below, according to IDC.

The firm is a big IBM OEM, especially for enterprise storage servers, tape drives and libraries.

Earnings call transcript