LENOVO GROUP LTD S/ADR - LNVGY STOCK NEWS

Lenovo has relaunched its Evolve Small initiative to support small businesses in North America, particularly minority and woman-owned enterprises. Following its successful launch last summer, the program has allocated over $1,000,000 in grants and technology donations. Lenovo, alongside partners Microsoft and AMD, aims to provide mentorship and technological resources to help these businesses thrive amid economic challenges. Submissions for Evolve Small will open on October 13, 2022, allowing businesses to benefit from tailored support.

Lenovo PCCW Solutions Limited has commenced operations, a venture between Lenovo Group (HKSE: 992, ADR: LNVGY) and PCCW (HKSE: 0008), targeting the US$320 billion Asia IT services market. This partnership aims to provide comprehensive IT solutions, enhancing customer competitiveness. With strong backing from Lenovo's global reach and PCCW's expertise, the company positions itself to capitalize on market growth projected to reach over US$470 billion by 2026. The collaboration reflects Lenovo's commitment to expanding its service offerings across the Asia Pacific region.

Lenovo Group (ADR: LNVGY) has reported strong performance for Q1 FY22/23, marking its ninth consecutive quarter of revenue and profitability growth. The company's net income rose by 11% year-on-year to US$516 million, with total revenue of US$17 billion, reflecting a 5% increase. Notably, 37% of revenue came from non-PC businesses, showcasing the effectiveness of its diversification strategy. R&D investments also increased by 10%, further supporting future growth.

Lenovo has announced its Back to School Sale, running from July 25 to August 15, offering discounts up to 67% on laptops, tablets, and more. Students and educators can benefit from additional $100 off and a 5% sitewide discount through ID.me. Key deals include laptops starting at $350 and premium 2-in-1 laptops discounted by up to 35%. The sale aims to provide essential technology at affordable prices as students prepare for the new school year.

Lenovo is launching its Back to School Sale from July 25 to August 15, offering significant discounts on technology products. Key deals include up to 67% off select laptops and tablets, with prices starting at $350. Students and educators can enjoy an additional 5% discount through ID.me verification. Promotions include various sales on ThinkPad, ThinkBook, and Chromebook models. Lenovo aims to support students and educators with affordable technology as they prepare for the new school year.

Lenovo’s Work for Humankind initiative has successfully improved connectivity on Robinson Crusoe Island, upgrading internet speeds from 1Mbps to 200Mbps. Around 30% of the local community now utilizes the technology hub, which includes advanced devices such as laptops and AI servers, enhancing conservation efforts. The initiative has reduced data processing time from months to days, significantly aiding endangered species protection. Lenovo also committed $100,000 for ongoing project support and plans to transition the tech hub to the local library, ensuring lasting benefits for the island community.

Lenovo announces its mid-year Black Friday in July Sale, offering discounts of up to 50% on select ThinkPad laptops, gaming PCs, tablets, and accessories from June 27 to July 18. Early access deals are available during Sneak Peek Week from June 27 to July 4. Highlights include laptops starting under $275 and up to 55% off PC accessories. MyLenovo Rewards members can earn double points during this period. Lenovo aims to replicate holiday-like savings for consumers.

Lenovo has inaugurated its first in-house manufacturing facility in Hungary, focusing on server infrastructure, storage systems, and high-end PC workstations. The factory, located in Ullo, aims to enhance production capacity and create over 1,000 jobs. Covering 50,000 square meters, it can produce more than 1,000 servers and 4,000 workstations daily. Supported by local government incentives, this facility aligns with Lenovo's global supply chain strategy and sustainability goals, contributing to efficient operations and reduced transportation costs.

Lenovo Group announced record fiscal year results, achieving over US$71 billion in revenue and US$2 billion in net income, marking a 72% increase year on year. All main business groups turned profitable, with strong performance in mobile, infrastructure, and services. The company plans to double R&D investments, reaching US$2 billion, to enhance innovation. Despite global challenges, Lenovo capitalized on the digital transformation trend, with significant growth opportunities in IT services and smart devices.