With the release of the third quarter of fiscal 2024 earnings report, Lenovo Group once again showed the market its solid operating posture and forward-looking strategic layout. Against the backdrop of overall pressure on the consumer electronics industry, Lenovo not only achieved year-on-year revenue growth, but also improved net profit sequentially, demonstrating strong development momentum.
According to the financial report data, Lenovo's smart device business (IDG) is still the mainstay of the company, especially the PC business, in the context of year-on-year growth in global market shipments, Lenovo's shipment market share is close to 24%, far exceeding the global average. However, for Lenovo, relying solely on the growth of the smart device business is obviously not enough to meet its long-term development needs. Therefore, the company actively deploys the infrastructure solution business and the solution service business, and strives to create a second growth curve. Although the growth contribution of these two businesses is not yet significant, Lenovo has shown strong determination and positive actions.
It is worth noting that Lenovo's layout in the field of AI is particularly eye-catching. As a leader in the PC industry, Lenovo understands the natural compatibility of PCs and AI, and sees great potential for AI PCs as the best platform to support AI large model applications. Therefore, Lenovo has released the latest generation of business AI PCs, continues to deepen the cooperation of the AI PC industry chain, and joins forces with Intel and other giants to jointly promote the development of AI PCs.
Through roles such as personal assistant, secretary and housekeeper, AI PC will bring infinite possibilities to users' work, study and life. According to IDC**, 2024 will be the first year of large-scale shipments of AI PCs, and the penetration rate of AI PCs will reach 85% by 2027. In the face of this huge market opportunity, Lenovo, as a leader in the PC industry, will naturally not miss it. As the "first person to eat crabs", Lenovo has made remarkable achievements in the field of AI PCs, and has further promoted the landing and application of AI PCs through initiatives such as the "Lenovo AI PC Pioneer Action".
At the same time, Lenovo's eyes don't just stop at PC devices. Yang Yuanqing, chairman and CEO of Lenovo Group, made it clear at the recent ** communication meeting that artificial intelligence will reshape all of Lenovo's businesses. Lenovo will embrace the development of AI technology with a more open and inclusive attitude, not only mining AI increments in the smart device business, but also seeking new growth points in the infrastructure and solution service business.
By deepening the smart device business, actively deploying new business areas, and vigorously promoting the development of AI PCs, Lenovo is laying a solid foundation for future growth. Driven by AI technology, Lenovo may usher in a broader space for development.