Lenovo India revenue up 38% to Rs 17,000 cr in FY22 on increased production – Business Standard

0
25

Topics
Lenovo | smartphones | personal computer market
Press Trust of India  |  New Delhi  Last Updated at May 26, 2022 18:10 IST
https://mybs.in/2avcKKS

PC maker India has recorded 38 per cent increase in revenue to USD 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 manufactured PCs and in India while increasing locally manufactured tablets manifold, the company said on Thursday.document.write(““);googletag.cmd.push(function(){googletag.defineOutOfPageSlot(‘/6516239/outofpage_1x1_desktop’,’div-gpt-ad-1490771277198-0′).addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();});

googletag.cmd.push(function(){googletag.display(‘div-gpt-ad-1490771277198-0’);});

var banHeight=$(“.article-middle-banner iframe”).height();if(banHeight<=1){$(".article-middle-banner").height(0);$(".article-middle-banner").next().next().remove();}displayConBanner=1;
"The total revenue for all businesses in India was USD 2.2 billion for the full fiscal year ending March 31, 2022, representing a year-on-year increase of 38 per cent," 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 it held 17.6 per cent market share in the March quarter of 2022.
"Our 38 per cent increase in revenue for FY 2021-22 clearly shows that is meeting the expanding need for transformational technology solutions in India. Additionally, this year our service-led transformation strategy has shown concrete results, with a 58 per cent rise in our services booking revenue," Lenovo India Managing Director Shailendra Katyal said.
Lenovo clocked its second-biggest quarter ever among small and medium business where its shipment grew by 37.5 per cent to about 2 lakh units, as per IDC.
"In every sector of society whether it be education, healthcare, manufacturing, retail, entertainment, or any of India's growing industries technology from Lenovo is helping people live, work, play, and study smarter," Katyal said.
The Lenovo group's net income increased by 72 per cent year-on-year basis to USD 2 billion and revenue growing by USD 10 billion for the second year running to over USD 71 billion.
"All main business groups were profitable for the full fiscal year with strong growth momentum in mobile, infrastructure, and solutions and services businesses," the company said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor
PREVIOUS STORY
NEXT STORY
Copyrights © 2022 Business Standard Private Ltd. All rights reserved.
Business Standard
Upgrade To Premium Services
Business Standard is happy to inform you of the launch of “Business Standard Premium Services”
As a premium subscriber you get an across device unfettered access to a range of services which include:
Business Standard
Premium Services
In Partnership with Fis Logo
Dear Guest,
Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard

source