Lenovo Group Ltd - LNVGY STOCK NEWS

Lenovo Group (OTC-PINK:LNVGY) reported its second quarter results, marking the 10th consecutive quarter of year-on-year profitability improvements. Net income increased by 6% to US$541 million, while group revenue reached US$17.1 billion, a 3% year-on-year growth in constant currency. Non-PC business segments contributed over 37% to total revenue, with solutions and services, as well as infrastructure, achieving high double-digit growth. The company also plans to double its R&D investments, having increased R&D spending by 15% year-on-year.

Lenovo has partnered with Carly Rae Jepsen to create a Broadway music video for her single "Surrender My Heart" from her album "The Loneliest Time." The live event will take place in New York City on November 17, featuring advanced Lenovo laptops based on the Intel Evo platform to enhance the production. Carly aims to spotlight Broadway following its pandemic struggles, while exclusive access to the live performance will be available to fans aged 21+. Proceeds from props and costumes will support charity efforts.

Lenovo is collaborating with GRAMMY-nominated Carly Rae Jepsen for a unique Broadway-inspired music video performance of her single "Surrender My Heart" on November 17 in New York City. The event highlights the brand's association with creativity and technology, utilizing Lenovo laptops based on the Intel Evo platform. This initiative aims to support the Broadway community post-pandemic, with proceeds from auctioned props and costumes benefiting charities. Lenovo emphasizes its mission to inspire through technology, showcasing its products in a live entertainment setting.

Lenovo's recent global study involving 500 CTOs reveals key insights into the future of technology. The findings indicate a shift towards a 'New IT' architecture, emphasizing the integration of smart devices, edge computing, and cloud solutions. Notably, 84% of CTOs express optimism about hybrid cloud technology. However, challenges in cybersecurity and compliance remain significant concerns for many. The study underscores the potential for leveraging technology further, with strong resonance for Lenovo's vision among CTOs. Conducted between July 26 and August 12, 2022, the survey spans various global markets.

Lenovo's Tech World '22 showcased innovations aimed at enhancing collaboration and sustainability. Key highlights included rollable smartphone and laptop concepts, a new interactive holographic telepresence solution named Cyber Spaces, and AI-driven solutions for remote work and education. Lenovo committed to achieving net-zero emissions by 2050, aligning with the Paris Agreement. The company plans to double its R&D investment to enhance productivity and address global challenges, emphasizing its strong position in the tech market with $70 billion in revenue.

Lenovo is launching a Black Friday Sneak Peek Sale from October 17 to October 30, offering discounts of up to 70% on various products. This promotion includes laptops priced under $200, up to 60% off ThinkPads, and more. Customers in the MyLenovo Rewards program will earn rewards points for future purchases. Lenovo, a global technology leader with US$70 billion in revenue, continues to expand its product offerings and serve customers across 180 markets.

Lenovo has announced a partnership with Queen Latifah for its Evolve Small initiative aimed at supporting small businesses in North America. This initiative offers financial aid, technological resources, and mentorship. Participants can win a cash grant of $30,000 and other benefits. The program builds on last year's success, which provided over $1,000,000 in grants to minority-owned businesses. Applications for this year started on October 13, 2022 and will close on November 15, 2022.

Lenovo has released its inaugural Think Report in celebration of the 30^th anniversary of ThinkPad. The report reveals that global productivity is hampered by a lack of purposeful thinking, costing individuals approximately two hours daily due to stress and burnout. Surveying over 5,700 individuals across the US, UK, Germany, and Japan, it underscores the need for 'real thinking' and suggests technology can play a role in enhancing cognitive processes. 80% of respondents call for a revolution in thinking to address societal challenges.

Lenovo is set to host its annual global innovation event, Tech World, on October 18, 2022. This year’s virtual event emphasizes the impact of smarter technology on everyday life and will feature keynotes from global CEOs, including Lenovo's Chairman and CEO, Yuanqing Yang, and leaders from Accenture, IBM, Intel, and Qualcomm. The event aims to showcase innovations in AI, edge computing, and sustainability. Tech World will be accessible on-demand in multiple languages, highlighting Lenovo's continued commitment to delivering smarter technology for a digital society.