LENOVO GROUP LTD S/ADR - LNVGY STOCK NEWS

Lenovo Group announced third quarter results, reporting Group revenue of US$15.3 billion and net income of US$437 million. Despite a 24% decline in revenue compared to the previous year, non-PC businesses contributed to solid profitability, with Solutions and Services Group (SSG) and Infrastructure Solutions Group (ISG) achieving record revenues of US$1.8 billion (up 23%) and US$2.9 billion (up 48%), respectively. The company expects market demand to recover in the latter half of the calendar year, driven by digitalization trends. Management remains focused on cost competitiveness and innovation to support long-term growth.

Lenovo and WEKA have entered a global agreement to provide new ThinkSystem Ready Nodes that combine Lenovo's servers with WEKA's Data Platform software. This collaboration aims to enhance performance-intensive workloads in over 160 markets, particularly in sectors like finance and genomics. The solution promises to accelerate AI and analytics while reducing costs, addressing the need for reliable, secure, and scalable data management.

The ThinkSystem SDS Ready Nodes offer diverse configurations, enabling quick deployment for various workloads, thereby simplifying operations and minimizing risks for enterprises.

Lenovo (ADR: LNVGY) showcased its future retail vision at the NRF 2023 Retail Conference, emphasizing its Retail Solutions portfolio that integrates AI and self-service kiosks. With a surge in demand, Lenovo's Scan-n-Go Self-Service Kiosks have been deployed in over 1,000 locations, improving fulfillment rates by 40% with 99% accuracy. Major retailers like Kroger utilize these solutions to enhance customer experiences. Lenovo's offerings also include cloud infrastructure, retail analytics, and sustainability features, catering to evolving retail demands. The company aims to transform retail operations through continuous innovation and technology.

Lenovo has launched 25 new ThinkSystem and ThinkAgile servers powered by Intel's 4th Gen Xeon Scalable processors, achieving over double the workload performance of previous models. The new solutions aim to simplify IT for businesses and enhance sustainability with Neptune™ Direct Water-Cooling technology, reducing power consumption by up to 40%. These advancements support AI, high-performance computing, and hybrid multi-cloud infrastructures, emphasizing faster insights and improved performance for mission-critical applications. Lenovo continues its commitment to innovation in the technology sector.

At CES 2023, Lenovo unveiled an extensive portfolio of innovative devices, including the Yoga, ThinkPad, and Legion series. Highlights include the dual-screen Yoga Book 9i and enhanced laptops featuring 13th Gen Intel processors. Lenovo also emphasizes sustainability with its vision for net-zero emissions by 2050 and increased use of recycled materials. New products for SMBs include the ThinkBook Plus with a dual display. The portfolio aims to enhance user experience and productivity, aligning with Lenovo's commitment to cutting-edge technology and environmental initiatives.

Motorola has introduced the new moto g play in North America, featuring premium functionalities at an affordable price, including an ultra-wide 6.5" HD+ display, AI-powered triple camera system, and a 5000mAh battery lasting up to three days. The device will be available starting January 12, 2023, for $169.99 through various retailers. Additionally, Motorola is hosting the 12 Days of Moto giveaway, offering customers a chance to win this new device. Discounts on popular models accompany the festivities, enhancing holiday shopping options.

Lenovo kicks off its Cyber Monday Sale with discounts up to 70% on premier products, featuring hourly doorbuster deals from November 26-28. Discounts include 25% off the Legion Slim 7i and 37% off the IdeaPad 5. On November 27, shoppers can find 65% off the ThinkPad X1 Yoga G6. New deals each hour on Cyber Monday will feature discounts on top items including ThinkBook laptops and gaming products. Lenovo anticipates high customer engagement during this promotional period.