Lenovo India clocks $1.9 billion revenue in FY 22-23

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New Delhi | Consumer technology major Lenovo on Wednesday said it clocked a total revenue of $1.9 billion in India in FY22-23. After a year of industry and global uncertainties, Lenovo said it is seeing positive signs of stability in the market. It expects year-on-year growth in the PC and smart device market in the second half of 2023.

We are experiencing a slowdown in the PC segment, our growth engines of Solutions & Service Group (SSG), Motorola and Infrastructure Solutions Group (ISG) played a key role in mitigating the slowdown,” said Shailendra Katyal, Managing Director, Lenovo India. Is.

We have supported this growth by investing in nurturing local talent and capabilities in India and continue to expand our local manufacturing presence with over 5 million products in India.

While group revenue was impacted by a slowdown in the device market, revenue from the non-PC business grew by nearly 40 percent in the fiscal year, boosted by Solutions and Services Group (SSG) and Infrastructure Solutions Group (ISG) .

Our clear strategy is working, and our operations are flexible despite global uncertainties,” said Yuanqing Yang, President and CEO. Going forward, we will continue to invest in R&D so that we are well prepared for the future.

In India’s traditional PC market, Lenovo retained the second spot with 15.7 percent share in the first quarter of 2023, despite a decline of 37.5 percent, according to the latest IDC report.

–IANS

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